The Importer Security Filing (ISF) rule, also known as ISF 10+2, relates to import cargo coming into the U.S. via ocean vessel. The rule states that an ISF Importer, or their agent, must electronically submit certain advance cargo information to Customs and Border Patrol (CBP) before the goods arrive into the U.S. It is important to note that bulk cargo is not subject to this rule.
U.S. Customs and Border Protection (CBP) has updated its Focused Assessment (FA) and audit guidelines for the first time since 2003. FAs assess an importer’s internal controls and identify possible issues to ensure compliance with Customs law and regulations.
Picture this: Several years ago, after performing the typical due diligence on locating and choosing a distributor in Russia, you proceed to move forward.
On October 8, 2014 BIS announced that it issued a penalty of $750,000 against Wind River Systems, a subsidiary of Intel, for the unlawful exportation of encryption software products to foreign government end-users and to organizations on the BIS Entity List.
Amidst the social and political turbulence in Mexico, there is new Energy Reform legislation.