Is your company involved in a field that includes the manufacturing of electronics, piping, aerospace, machining tools, or any alloys used in those industries? If so, then you need to be aware of Rule 1502 recently instituted by the Securities and Exchange Commission (SEC) regarding the use of conflict minerals…
While it is important to gain access to emerging markets, companies must ensure compliant processes are followed diligently. This problem presents itself in Russia, as many people would like to do business there, but won’t risk it, as they aren’t confident it can be done compliantly and without corruption. Allyn…
U.S. Customs and Border Protection (CBP) has issued a final rule regarding changes to what may be considered an “informal entry.” An “informal entry” has been any shipment valued at less than $2000. Anything valued at more than $2000 is considered a “formal entry” and requires a customs bond and…
The U.S. - Panama Trade Promotion Agreement was signed into law in October of 2011, however it was not implemented. President Barak Obama has proclaimed that it is effective as of October 31, 2012. Here is what you need to know about the U.S. – Panama Trade Promotion Agreement: General…
Having trouble locating a specific customs record? Do you have to look through filing cabinets for old documents or travel offsite and rummage though boxes and files to find a customs entry? U.S. Customs requires that importers retain their records for a period of 5 years. This can be a…
The paperless Customs clearance had been launched by the twelve customhouses of China at the beginning of this August. All paper documents now have to be turned into electronic ones. There is no any paper document during the whole declaration process now. It has highly improved the Customs clearance efficiency…
Q: Is It Possible to Expedite Customs Clearance of Cargo Arriving by Ocean to the U.S.? A: Many first-time ocean-transport customers wonder if they will need to wait days for their cargo to clear customs before being allowed to collect it. Luckily, the answer is ‘no’! In fact, you don’t…
Q: What Is a Letter of Credit? A: A letter of credit is an agreement between two parties—a buyer and a seller— that is issued by a bank acting as an uninterested party. The seller will only get paid after performing specific actions that the buyer and the seller agree…
Q: How Should I Ship My Material? A: There are many factors that come into play when choosing the right mode of transport for your freight: Where is the freight picking up from and delivering to? How much does the shipment weigh? What are the freight’s dimensions?…
If you are a business in Virginia with idle (not in use) machinery and equipment, you may be eligible for a business tangible property tax exemption on such equipment. Knowing the process for declaring idle equipment will save you time and money but only if you plan ahead. Virginia Code…