40 Export Compliance Business Terms

Welcome to our guide on Export Compliance Business Terms!

In this guide, we will cover 40 essential terms used in export compliance, providing you with a thorough understanding of the key concepts and regulations. Whether you are new to the world of export or looking to brush up on your knowledge, this guide is designed to be your go-to resource for all things export compliance. So let’s dive in and expand our understanding of this important aspect of international trade! Stay tuned for more informative sections on key export compliance terms.

1. Export Compliance: Adherence to laws and regulations governing the export of goods and technology.

2. Export Control: Government regulations that restrict the export of certain goods and technologies to specific countries or individuals.

3. ITAR (International Traffic in Arms Regulations): United States government regulations controlling the export of defense-related articles and services.

4. EAR (Export Administration Regulations): U.S. regulations controlling the export of non-military items, often related to commercial and dual-use goods.

5. Dual-Use Items: Goods or technologies that have both civilian and military applications and are subject to export controls.

6. Denied Party Screening: The process of screening individuals, organizations, or countries to ensure they are not on government lists of restricted entities.

7. End-User Certification: A declaration from the buyer or end-user confirming the intended use and destination of exported goods.

8. Export License: Authorization granted by a government allowing the export of specific goods to a designated country or recipient.

9. Sanctions: Restrictions imposed by governments on trade with specific countries or entities due to political, economic, or security reasons.

10. Embargo: A comprehensive ban on trade with a particular country, often as a result of political or security concerns.

11. Commodity Classification: Determining the export control classification number (ECCN) or Harmonized System (HS) code for a product.

12. Incoterms (International Commercial Terms): Standardized terms defining the responsibilities of buyers and sellers in international trade transactions.

13. Customs Broker: A professional who assists with customs clearance and compliance during international trade.

14. Tariff Classification: Assigning a code to goods for customs purposes, determining applicable tariffs and duties.

15. ITC (International Trade Commission): An independent U.S. agency that investigates and makes recommendations on trade issues.

16. Country of Origin: The country in which a product is manufactured or produced, impacting customs duties and import regulations.

17. Harmonized System (HS) Code: A standardized numerical method of classifying traded products for customs purposes.

18. Freight Forwarder: An entity that arranges and manages the transportation of goods from one location to another in international trade.

19. Export Declaration: A document providing information about exported goods for customs and statistical purposes.

20. AES (Automated Export System): A U.S. government system used for electronic submission of export data.

21. Certificate of Origin: A document certifying the origin of goods, often required for customs clearance.

22. Carnet: An international customs document allowing the temporary importation of goods without paying duties.

23. International Shipping Documentation: Documents such as the bill of lading, packing list, and commercial invoice required for international shipments.

24. Non-Disclosure Agreement (NDA): A legal agreement outlining confidentiality obligations related to sensitive information.

25. Export Compliance Program: A systematic approach within a company to ensure compliance with export regulations.

26. Recordkeeping: Maintaining accurate and complete records of export transactions for compliance purposes.

27. Deemed Exports: Transfers of controlled technology or information to foreign nationals within the U.S., considered as an export.

28. IT Security: Measures to protect information technology systems and data from unauthorized access, critical for export compliance.

29. Export Administration Act (EAA): U.S. legislation that provides the legal basis for export controls.

30. Restricted Party List: Lists of individuals, organizations, or countries subject to export restrictions or embargoes.

31. Due Diligence: The process of thoroughly researching and verifying information to ensure compliance with regulations.

32. Export Screening: The systematic process of evaluating goods, technology, and parties for export control compliance.

33. Technology Control Plan (TCP): A document outlining measures to control the access and dissemination of controlled technology.

34. Debarment: The prohibition of certain individuals or entities from participating in export transactions.

35. Compliance Training: Training programs to educate employees on export regulations and compliance requirements.

36. Trade Facilitation Agreement (TFA): An international agreement aimed at simplifying customs procedures and reducing trade barriers.

37. Strategic Trade Authorization (STA): A U.S. government license exception allowing certain exports without a license under specific conditions.

38. Export Controls Classification Number (ECCN): A classification assigned to items subject to export controls under the EAR.

39. Duty Drawback: A refund of customs duties paid on imported goods when those goods are exported.

40. Inward and Outward Processing: Customs procedures allowing temporary suspension of duties for goods imported for processing or re-exported after processing.

Conclusion

We hope this guide has provided you with a comprehensive understanding of the key export compliance business terms. By familiarizing yourself with these concepts, you can ensure that your business is compliant with all relevant regulations and avoid any potential legal issues. Thank you for choosing us as your source of information on export compliance, and we wish you success in all your international trade endeavors. Remember to check back for more informative sections on key export compliance terms!