Amber Road Launches TradeWizards.com, a Free Cloud-based Portal for Global Trade
Amber Road, a leading provider of Global Trade Management solutions, announces the launch of its latest trade compliance product, TradeWizards.com. TradeWizards.com is a suite of nine different research tools that helps companies import and export goods more quickly and affordably, while staying compliant with country specific trade regulations.
TradeWizards.com will enable users to instantly perform numerous global trade activities including: restricted party screening, product classification, and landed cost calculations. What used to require hours of manual interpretation of trade rules is now an automated process achieved instantly via TradeWizards.com.
Sign up now on TradeWizards.com.
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Upcoming Trade Compliance Webinar
Join World Trade 100 and Amber Road (formerly Management Dynamics, Inc.) on Thursday December 15th at 2 PM EST for a complimenattary webinar, Global Trade Compliance in the Oil & Gas Industry: A Case Study with Weatherford.
Global trade experts will explain the importance of automating trade compliance processes and the difficulties oil and gas companies face, as well as present recent developments in the industry. By attending this webinar, you will walk away with:
- A better understanding of the export compliance challenges oil and gas companies are facing
- Various strategic considerations to think about when implementing an automated trade compliance solution
- Best practices you can use to improve your company’s export compliance processes
Speakers will include:
Scott Byrnes, Vice President of Marketing, Amber Road (formerly Management Dynamics, Inc.)
Natalia Shehadeh, Director of Trade Compliance, Weatherford
Scott Johnston, Attorney, Specializing in U.S. Import/Export Law, Givens & Johnston, PLLC
Join us and find out how you can automate your trade compliance process!
Upcoming Export Compliance Webinar Series
Part One: Restricted Party Screening
Join Customs & Trade Solutions, Inc. and Management Dynamics for a complimentary three-part Export Compliance Webinar Series, which will address the three key steps of any Export Compliance Program (ECP): Restricted Party Screening, Product Classification, and Shipment Screening and Documentation.
The first webinar will be held on Tuesday, September 20th at 2:00pm EDT and will review in detail the most common first step of any export compliance program, Restricted Party Screening (RPS).
Global trade compliance experts will show you how to automate Restricted Party Screening to reduce your compliance risk, as well as provide a discussion on industry challenges and best practices for building an Export Compliance Program (ECP), including:
- Tips for establishing a cost-effective compliance program in a down economy
- Understanding of the technology available to manage RPS today
- How you can implement screening software across your organization
- Screening best practices of today’s top global exporters
Speakers will include:
Suzanne Richer, President, Customs & Trade Solutions, Inc.
Sanjeev Williams, Product Manager, Management Dynamics
Register for the webinar today!
Mark your calendars for the next two webinars in this series!
Product Classification: Friday, October 21
Shipment Screening & Documentation: Friday, November 18
Japanese Police Arrest Two People For Export Violation
On Tuesday, Japanese police arrested two people for the export of cosmetics, clothes and food into North Korea. This is a trade ban violation between Japan and North Korea, states the Strait Times, a Singapore publication.
Last year, Noriko Nakanishi, 62, an export executive, and her colleague Masaki Ikeyama, 73 shipped cosmetics via China into North Korea, and in August shipped clothing and food.
Since 2006, Japan has enforced the United Nations ruling of the ban of luxury goods, and in June, Japan declared a total trade ban to North Korea.
No information was given as to the next steps for the violators.
To read more, click here.
CTDI Reduces Corporate Risk with Management Dynamics’ RPS On-Demand Solution
Technology Services Company Improves Trade Compliance with Comprehensive Screening of Restricted Parties
EAST RUTHERFORD, NJ, November 5, 2009 – Management Dynamics, a leading provider of Global Trade Management (GTM) solutions, today announced that Communications Test Design, Inc (CTDI), a full service global engineering, repair and logistics company, implemented its RPS On-Demand solution, an advanced risk management solution that screens individuals and businesses to identify prohibited transactions based upon over 90 restricted party lists. Since automating restricted party screening, CTDI has significantly reduced corporate risk and improved compliance with global trade and security regulations while minimizing time and resources required for screening.
Providing repair and logistics services for major Telecom and Cable service providers and OEMs, CTDI also provides the service of screening shipments for many of its customers. CTDI needed to streamline its screening process across multiple order management systems and 25 locations. The company selected Management Dynamics’ RPS On-Demand solution for its functionality, ease of use, and ability to centralize its compliance with multi-org and team-based workflow to enable its global branches to easily manage their own customer shipments.
“We needed to prevent any illegal transactions with restricted entities or trade parties and avoid potential fines and penalties for CTDI and its telecom customers. We had previously relied on a fragmented, incomplete process,” said Greg Pugh, Global Compliance Manager, CTDI. “Management Dynamics provided the best value and came highly recommended by many authorities in the trade industry. It was also very important that the screening did not create a cumbersome distraction during high volume shipping processes. Since using the RPS On-Demand solution, we have significantly reduced our corporate risk, liability and exposure to prohibited transactions.”
Available on a flexible, on-demand architecture, Management Dynamics’ RPS On-Demand solution addressed CTDI’s needs with a secure, comprehensive method to automate screening of its customers, vendors, and other trading partners against all restricted party lists from governmental institutions worldwide. With improved screening algorithms based on computational linguistics, RPS On-Demand delivers at least a 30 percent improvement in screening accuracy with a 70 percent reduction in false positives over traditional methods. The Web-based solution integrates with any enterprise system and can be quickly and cost-effectively implemented.
“Today, exporters are held to a higher level of accountability to meet government mandates than ever before,” said Jim Preuninger, CEO of Management Dynamics. “CTDI uses our RPS On-Demand solution to centralize and streamline its compliance process to improve productivity and effectively manage supply chain risk.”
About CTDI
A premier Telecommunications service company headquartered in West Chester, PA., CTDI has provided groundbreaking maintenance and product service solutions to the global telecommunications industry since 1975. Today, CTDI offers the most comprehensive Service Portfolio in the industry that includes: Wireline Repair & Logistics, Wireless Repair & Logistics, Engineering and Installation services, Global Supply Chain solutions and Product Engineering and Manufacturing. Today, CTDI services Original Equipment Manufacturers (OEM) and Carriers with 42 international strategic repair and logistics locations supported by an experienced team of over 4,500 telecommunications professionals. For more information, visit http://www.ctdi.com/.
About Management Dynamics, Inc.
Management Dynamics is a leading provider of global trade management solutions that improve the performance of global supply chains for importers, exporters, logistics service providers, and carriers. The company’s solutions synchronize the flow of information among trading partners, optimize supply chain execution decisions, and streamline import and export processes to ensure regulatory compliance and minimize cost and risk involved in cross-border transactions. Management Dynamics’ time-proven solutions are used by more than 13,000 global users at some of the world’s most successful 3PLs, carriers, manufacturers, retailers, and high technology companies.
For more information, please visit http://www.managementdynamics.com/html/press/mdi_press_ctdi.shtml
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House of Representatives Expands Sanctions Against Burma
On July 21st, The House of Representatives approved a joint resolution approving a one-year renewal of the economic sanctions against Burma. These sanctions include a ban on all products of Burma that are imported directly or indirectly into the U.S.
The Senate is expected to approve a similar resolution in the next few days.
For more information on this new approval, please click here.
Retired Professor Sentenced to Prison for Export Violation
The Justice Department announced today that a 72 year old retired Tennessee Professor will service 4 years in prison for violationg the Arms Export Control Act.
Dr. Roth, retired professor, was convicted of conspiring with Atmospheric Glow Technology, Inc., a Knoxville technology company, of unlawfully exporting in 2005 and 2006 fifteen different “defense articles” to a citizen of the People’s Republic of China in violation of the Arms Export Control Act.
This act prohibits the export of defense-related materials, including the technical data, to a foreign national or a foreign nation. The defense articles related to specific military technical data that was restricted and associated with the USAF project to develop plasma technology for use on weapons system drones.
For more information, click to view the press release.
The Cost of Conducting Business With Denied Parties
What is the cost of doing business with denied parties these days? $130,000 at least for Engineering Physics Software. The company allegedly commited 16 violations for exporting software to Iran and 6 violations for exporting it to end-users on Bureau of Industry and Security’s Denied Entity List.
The software is subject to both the Export Administration Regulations (“EAR”) administered by BIS and section 560.204 of the Iranian Transactions Regulations administered by the Office of Foreign Assets Controls. Section 746.7 of the EAR states that, “no person may engage in the exportation of an item subject to both the Regulations and the Iranian Transactions Regulations without authorization from OFAC.”
Engineering Physics Software never received authorization to export into Iran and therefore, was not compliant. Furthermore, this company also shipped its software into India and Pakistan to persons also considered a denied party on the Entity List. Engineering Physics Software did not obtain a license from the Department of Commerce to export and were, again, not compliant to export. This issued 6 more violations against the company.
How to ensure this situation never happens to your company?
Invest in an export management system with restricted party screening. Management Dynamics’ offers an Export On-Demand solution. It is a powerful export compliance program that can be implemented to avoid potential fines and preserve export privieges. Export On-Demand can also screen for restricted parties. It’s powerful screening engines based on conputational liguistics to identify potential issues with ship-to and end-user parties to a transaction.
To learn more about Management Dynamics’ Export On-Demand solution, click here.
To read more about Engineering Physics Software violations, visit Export Control News & Alerts