Tools and Best Practices for Informed Compliance

The term “Informed Compliance” was formally introduced in the United States with the enactment of the Customs Modernization and Informed Compliance Act (the Mod Act) in 1993. The concept evolved from what had been a somewhat strained and often adversarial relationship between Customs and the trade community.

Although the term Informed Compliance is not typically identified with export compliance, the concept that the government and the business community have a shared responsibility to optimize compliance has applicability there as well. Because the penalties for non-compliance with export requirements can be severely burdensome, it is incumbent on exporters to be extremely diligent to optimize compliance. 

What follows are some recommended tools and best practices to assist all companies actively involved in global trade (whether importing, exporting, or both) to thrive in today’s world of Informed Compliance and to achieve optimal performance while minimizing penalties.

Thomson Reuters

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