Following the terrorist attacks of 11th September 2011, companies have to comply with a raft of anti-terror regulations. But, unaware of the legal requirements of export controls, many businesses are breaking the law without even realising it. Now software developer AEB (International) Ltd has published a white paper to help companies stay compliant in everyday business.
AEB’s white paper highlights some of the most commonly held myths about export controls and provides an overview of the key elements companies need to consider in their trading relationships and transactions, regardless of whether they trade domestically, within the EU internal market or internationally. Important topics include issues such as restricted parties, embargoes, dual-use and military goods, critical end-use, and U.S. re-export controls.
Export control restrictions apply to anyone who moves goods, not just those who manufacture or trade arms and other military goods. All businesses that transfer goods within the European Union or to countries outside the EU must check whether embargoes or licensing requirements apply. This is achieved by screening against regularly updated lists of commodities, persons and countries, including the EC Dual-Use Regulation, embargo regulations, the U.S. Export Administration Regulations (EAR), the U.S. International Traffic in Arms Regulations (ITAR) and sanctions lists. Companies need to take an active interest in this area to avoid the potential implications of failure to screen, which range from bad publicity to fines to the loss of export privileges and even prison sentences.
The quickest and most efficient way to ensure compliance with all laws and regulations is by deploying a software solution that automatically launches the necessary screening processes and performs all the checks at the proper time. Compliance & Risk Management, a component of AEB’s ASSIST4 supply chain management suite, protects companies against the potential legal consequences of unintended violations.
One key function of ASSIST4 is to screen business partner addresses against the sanctions lists of the UN, EU and U.S. authorities. ASSIST4 Compliance & Risk Management ensures export control by screening against the relevant laws and regulations. In some cases, U.S. export control laws may apply, as they claim extraterritorial jurisdiction - U.S. law follows the goods, so to speak. ASSIST4 License Management administers individual and general licenses used in the export control process, and companies that manage their orders in SAP® rather than ASSIST4 still have easy access to all the same screening mechanisms without ever leaving the SAP® workflow and document chain, through AEB’s convenient SAP® integration modules.
Claire Umney, General Manager of AEB (International) explains: “Many companies assume they don’t need to worry about export controls because they don’t export or only do business within the EU. This can turn out to be a catastrophic mistake because the list of denied persons also includes British nationals and other European nationals. It is obligatory to screen against sanctions lists, regardless of the product and the consignee’s country. Manually checking sanctions lists is time-consuming, impractical, and error-prone. You need high-quality software that automatically scans your data in the background without disrupting the day-to-day workflow.”
The white paper can be downloaded on http://www.aeb-international.co.uk/news/whitepaper/. Exporters who wish to learn more about AEB and the solutions it offers can register for a free Compliance online demonstration seminar on http://www.aeb-international.co.uk/webinar/index.php
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