How to Ensure Your Company Follows International Trade Compliance

If your business has recently ventured from domestic business to international, there are quite a few rules and regulations you need to be aware of. On the issue of trade, there are plenty of regulations set in place by the FTC that it is mandatory for you to follow. Trade compliance encompasses any sort of export and import of goods, technology, products, and even information into or out of the United States. All of these new steps can be confusing and difficult to navigate. However, it is all made simpler if you follow these tips to ensure that your company follows international trade compliance rules.

Employee Regulation

The first thing you want to do in trade compliance is ensure that all employees are aware of what needs to be done on their part. Send a statement and even a contract to employees so that they know what is expected of them in the company to follow all legal restrictions. You should also consider making this information known to any board members, investors, partners, etc as they also represent your company and can make decisions that might reflect poorly on you or put you in hot water. Make the standards of web compliance a part of who you are as a company and the way you conduct business.

Noncompliance Reports

Should someone in your company slip up, unintentionally or otherwise, you need to be made aware as soon as possible to rectify the situation. Create a system where employees can report noncompliance on behalf of themselves or someone else. If possible, this system should be anonymous to ensure that employees will not lose their job over one mistake. However, it can also be a good idea to log these issues to ensure that they don’t happen repeatedly.

Software Tools

Installing software tools across your company can help in making sure that employees are complying and following the same standards. These tools can automate the work and restrict any noncompliant actions that might occur. It often includes entity extraction software that helps employees identify the correct consumers and businesses you are working with and match their information correctly.

Wading into the waters of international trade can be difficult for any business to navigate, old or young. However, by ensuring that employees are following a set of standards and using the right tools to help them, you can make this transition seamless whil still following all of the necessary rules and regulations.