Export Controls are U.S. federal government laws and regulations that require federal agency licensing approval before the export of controlled items, commodities, technology, software or information is exported to restricted foreign countries, persons and/or entities (this includes universities).
These regulatory controls under the current Export Control Reform (ECR) initiative are changing and are designed to better protect America’s most sensitive defense technologies, while reducing unnecessary restrictions on the exports of less sensitive items, commodities, technology and software. ECR is a key objective for the Department of State / Commerce and the Political-Military Bureau, in particular.
In August 2009, President Obama directed a broad-based interagency review of the U.S. export control system with the goal of strengthening national security and the competitiveness of key U.S. manufacturing and technology sectors. Goals established under the reform are focusing on current world-wide threats and regulatory changes being made are adapting to the changing economic and technological landscape throughout the world. These reforms are now being implemented as of October 2013 and are consistent with United States international commitments.
But don’t worry, MD Vincent Consulting LLC can help you or your company understand these new regulatory changes and help keep you compliant with all these regulatory changes.
“Stop Export Control Violations” before they happen today… and know when Red Flags are raised on your exports. You and your company employees need to be reminded of the warning signs of transactions that might lead to illegal exports or technology transfers. A timely alert could save your firm from costly fines and penalties.
Contact MD Vincent Consulting LLC today and let us help prevent “Red Flags” from raising in your company… “Know Your Customer before export: Things that should alert you to potential violations of the Export Administration Regulations.”
If you want to learn more about the President’s ECR Initiative? Click here.