Don’t Hold your Dreams, Start exporting next week!

Starting your business in export , but your associates are discouraging you, that restricted party screening or denial party screening are confusing, and you cannot make profits in your endeavours! No, it’s not like that; just follow the rules, as the US government updates in their websites.

There are various methods to keep you upgraded.

You as an exporter should know the lists of the objectionable entities on the denied party listings. It is not only bound to the BIS or EAR, or OFAC, but there are some listings from the EU also.

You can follow a process like “Know your Customer”, which would enable you to have the right information of your business partners and keep you informed about their activities.

Thirdly, The US government has put some red flags to some parties. Better not to have business with them, and if ever, follow a proper procedure.

Keep yourself updated regularly, with the international list of denied parties. The international treaties and agreements do change and you should have an eye to consider it, before making a business dealing with your client or partner.

Fifth is that you can have a confidential communication with BIS, if you find anything suspicious about a party or the transaction. The Export enforcement cell will help you in this regard, with total confidentiality.

Sixth, hopefully you are aware of the automated software assessing the trade partners. This is of immense help, because the service providers are subject matter expert of this and will save your time and human capital expenditure.

Lastly, if you a small exporter and don’t want to invest in installing the automated software, you can undergo the evaluation by cloud based screening system.

Happy exporting and happy enterprising!!