Articles of interest to others in international trade (industry associations, customs brokers, etc.).
Originally walking slowly towards the customs authority, Ray suddenly quickened his pace. The reason behind his change of gait was a welcome thought. “That’s right, I don’t have to pay duty fees!” Acting almost like a “merchandise passport,” ATA carnets aren’t necessarily mainstream knowledge. We aim to change that in the following article. By the[…]
OFAC (Office of Foreign Assets Control) heads the United States sanctions compliance program. As a part of the U.S. Treasury Department, they take a risk based approach in the search for red flags raised by an industry or nation. Besides their Specially Designated Nationals (SDN list) and Blocked Persons list, OFAC sanctions affect various entities.[…]
What Are Country of Origin Labels and What Do They Mean for Consumers? These are labels that indicate the country where a product was made. They are intended to help consumers make informed choices about the goods they purchase. There are several different types of country of origin labeling systems, but the most common is[…]
Despite the ongoing trade disputes around the globe, businesses have increasingly been seeking opportunities overseas. Even for the small business owner, overseas acquisitions can be an exciting and lucrative way to expand your business and opportunities. For those considering an opportunity overseas, the following can serve as a short roadmap for how to prepare. Why[…]
My Top 6 Mistakes Overseas 1. Taxi Scams – Of course we have all fallen victim to these as tourists and business travelers. I have actually become rather adept at noticing these scams in my most common destinations I visit now. Most commonly they will run a higher tariff rate (runs the meter faster) or[…]
Lessons Learned Doing Business Overseas Reidel Law Firm represents and transacts business with partners and clients around the globe. In our travels and projects we have had the opportunity to work with many cultures and countries. On rare occasions these projects sour a bit and become a learning experience for us. In this article I’d[…]
US Expands Foreign Investment Reviews I detailed the changes in export controls previously [cite] passed within the John McCain National Defense Authorization Act of 2018. Another piece of that legislation importantly affects many future foreign direct investors seeking to invest in the US. The Foreign Investment Risk Review Modernization Act of 2018 has greatly expanded[…]
What is an EIN and ITIN (and Why Do I Need It)? When starting a new business, you will come across certain actions which require an EIN, or an employer identification number. These are often required by government agencies, banks, payment processors, business licensing, and other typical business necessities. The EIN is issued by the[…]
