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The 3 Best Ways to Mitigate Risk For Your Global Business

Taking your business to an international level allows you to reach new customers, get better prices on manufacturing, and ultimately, make more money.    Unfortunately, once your business goes global, you’re suddenly susceptible to risks that you might not have considered before. Your company is now under new tax laws, import and export duties, and …

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An Introduction to License Determination and License Exception Management

With the increase in eCommerce and accessibility to international travel, companies continue to grow and expand overseas, finding new business partners, suppliers, and consumers worldwide. This global approach to business allows companies and consumers to save money on manufacturing and access various resources and products.    As these companies start selling and shipping internationally, new …

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Product Classification For Export: Explained

While global trade organizations continually collaborate to promote international uniformity in product classification, there are several different classification systems in place that traders must recognize to ensure compliance.    Beyond globally accepted classifications, each country has the latitude to tack on additional specifications for products moving across their borders.    Let’s look at the types …

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The Duty Drawback Process: Explained

From fledgling startups to Fortune 500s, all proactive companies are looking for ways to save resources and streamline workflows. Finding ways to boost efficiency is especially critical for industries engaging in global trade.    Managing imports and exports while ensuring compliance and clearance through customs can be overwhelming. Beyond that, there’s one crucial piece of …

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How Removing Tariffs and Streamlining Non-Tariff Measures Would Impact Latin America and the Caribbean

Often, global trade news features two of its most prominent participants: the United States and China. The Western World continues to engage in extensive trade with Asia, resulting in an endless webwork of trade policy and even trade wars between participating nations.   Still, how do other areas of the world – like Latin America …

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What is Denied Party Screening?

Whether you’re a small sole proprietorship or a Fortune 500 company, good business practices will contribute to having a successful business. In addition, forming strong business relationships with dependable clients creates a business environment built on trust and loyalty.   Unfortunately, the world is filled with individuals seeking to utilize a business entity to bring …

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Three Benefits and Risks of Global Trade

Trading globally increases opportunities and profitability for businesses worldwide. Broadening your customer base and building relationships with international companies can take you to the next level. 

Global trade is a complex opportunity that can be very profitable if done right. However, a thorough analysis of the risks is necessary before jumping into the deep end.