Export is one of the complicated issues in the recent days. In the earlier times, companies used to sell their products and transfer technology domestically, within one country. The amount of goods that were exported to other places were quite small in volume, most importantly, there were less complexities in the exporting process. But, due to development of technology and modern methods, the concept of trading has changed a lot. Not only goods are being exported, now technical data and defense articles are also transferred across the international borders.
With the expansion of trade activities around the globe, the successive challenges and complexities have also increased. As there are numerous challenges in the export sector, there are solutions too. The solutions come in the form of online software applications. The emergence of the export software applications has helped U.S exporters a lot. These online tools are effective and help to uphold a legal trade platform that complies with the successive laws and regulations. In order to avoid complications, exporters are now using online export compliance solutions that are fast to operate and user-friendly too.
Challenge 1: Huge Number of Products
One of the important challenges that arise in the global trade is increasing number of exporting goods. The bulk of exporting is more in the recent days. As, in the earlier times, exporters export less products. The complexities were less. Manual checking was enough to screen the goods. But, this process is not effective in screening bulk export goods. There should be a process to check the bulk goods.
Challenge 2: Export across International Borders
As, the demand for products manufactured in one country has now increased in other countries as well, the export is happening across international borders. Thus, proper checking is must before exporting goods to other countries, mainly to the non-U.S countries. Screening of the end-users is must nowadays. The exporters should comply with the U.S export rules and regulations. Failing to comply with the rules can force the companies to face certain circumstances like paying huge monetary fines and cancellation of export license.
Challenge 3: Export of Defense Articles and Technical Data
This is one of the biggest challenges in global trade. Nowadays, exporters not only transport commercial goods, they also export defense related technical data and articles. Such products require high compliance with the export control laws, particularly ITAR in the U.S., and through screening of the customers, end users and all other parties involved in the trading. These companies and manufacturers should be ITAR compliant, as well. Failing to comply with the compliance rules can be very detrimental to the manufacturers and exporters.
Wide Spectrum of Solutions:
For the above challenges, there are several solutions for the export companies. Online applications are now becoming popular. They are effective in performing bulk screening of the products. They are user-friendly and they are cost-effective at the same time. These online tools help the companies in determining the trade license and export classification. They are used in bulk party screening and to check whether the export parties, end users and freight forwarders, successfully comply with the trade rules and fall within the sanctioned lists or not. The companies coming under the denied party list are not able to perform the export business in the future. Those companies coming under the sanctioned party list can further continue the export.
Thus, to combat the various challenges in the field of export, exporters are finding ways to keep the export legal and compliant.