International shipping is a complex and ever-changing field. As freight forwarders, we make it our business to become specialists in our chosen fields, passing this expertise on to our clients. We’re here to help you move goods to your desired end country and to do so most cost-effectively and reliably. International trade compliance is something that every business trading overseas should be aware of. And, we’ll go into why in this blog here today.
What is Trade Compliance?
Trade compliance refers to the operation of international trade that abides by many international regulations, security rules and ethical practices. It is the act of respecting the different treaties and regulations found in individual countries and ensuring the goods you’re sending abide by these. International Trade Compliance is complex – the agreements made between different countries and the penalties for violations are continuously changing. This is why it pays to have an experienced support network in place to reduce the risk of these.
Why Is it Important?
Global commerce has continued to grow and now accounts for a significant percentage of the world’s economy. To manage individual companies, ensure taxes are paid accordingly and maintain good levels of quality control, we all must abide by the right rules. The boundaries laid out are there to help minimise the trade of potentially dangerous goods, such as illegal firearms and weapons. It helps businesses to effectively engage in international trade and reduces the risk of delays to shipments.
International Trade Compliance makes sure that the same standards and requirements are upheld across the board. It is an act that ensures global trade remains stable and the requirements of different countries are abided by.
How Does Trade Compliance Impact Your Business?
As a business or someone meeting the needs of a client, being able to offer good delivery times is vital. International shipment is fraught with the possibilities for the delay, from incorrectly filled in paperwork through to non-abidance to restrictions. If you fail to remain trade compliant within your international shipping activities, you’re at risk of:
- Increased risk.
- Decreased customer satisfaction.
- A lack of understanding about regulations and rules.
- An advantage over your competitors.
At Radius Warehouse and Logistic Services, we specialise in supporting businesses moving goods in and out of the USA and the Far East. We also support you in remaining trade compliant to reduce delays and help your business stand ahead of the crowd. If you would like to speak to one of us or request a quote, please get in contact here today.