Most US importers are familiar with duty. They pay duty (and applicable MPF/HMF) on many of their imported goods – particularly those that are not granted 0 duty by virtue of a free trade deal. Unfortunately, too many companies consider this cost a “necessary cost of business” and simply plan for it in their budgets. These … Continue reading “Duty Drawback – Benefits and Challenges”
A recent OFAC press release, and guidance document, offers some good advice, but also risks misleading readers. A careful read of the case and guidance will reveal a hidden lesson to be learned. At first glance, the guidance simply reminds companies to ensure their Sanctioned Party Lists (SPL) are updated and reviewed, and most readers … Continue reading “The hidden lesson in OFAC guidance on “false hit lists””
Sanctioned Party List (SPL) Screening is an extremely powerful functionality of SAP Global Trade Services (GTS). Before addressing best practices, below is a quick summary of the GTS SPL Engine capabilities: GTS deploys a screening algorithm and a TREX fuzzy logic search engine to evaluate partner addresses comparisons to denied parties GTS allows users to screen business … Continue reading “SPL Screening in GTS Best Practices”
SAP Screen Personas allows companies to improve user productivity by personalizing their SAP ERP screens. By removing fields you don’t use, converting to drop down menus, and automating recurring keystrokes, the user can tap into a more enjoyable experience. With more intuitive SAP screens, you are providing the right information to the right users in the right … Continue reading “Improve productivity through personalization”
Product classification isn’t easy. Companies need to ensure that products are correctly classified and void of compliance risk, meeting a wide range of classification requirements. Such requirements could include Harmonized Tariff Codes, Schedule B, and Export Control Classification Number (ECCN). To complicate matters, trade rules are constantly changing – monitoring them is a big job. … Continue reading “How to Manage Compliance Controls for Global HTS”
The Trans-Pacific Partnership (TPP) is a proposed regional free trade agreement. As of 2014, twelve countries throughout Asia Pacific have participated in negotiations on the TPP: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. With TPP in place, tariffs would be eliminated between the TPP countries … Continue reading “Preparing for the Trans-Pacific Partnership (TPP)”
Over the past decade, trade business requirements and expectations have increased at an exponential rate. In parallel, SAP Global Trade Services has advanced and become much more robust. With such advances in technology, we continue striving to exceed customer expectations. So what is an ideal solution comprised of in this day and age? Fast ROI Secure Scalable … Continue reading “Krypt Cloud for SAP GTS”
DSP-5 Scenario based on real events Your company has been working for months, maybe even years to cultivate a contract to manufacture your company’s first satellite for a Singapore Cellular Provider. It’s a $10,000,000 contract and your manufacturing team has just completed the final product. Months ago, you were given a forecast of when the … Continue reading “What you need to know about DSP-5”
