Venable’s International Trade and Customs Practice Group is publishing a five-part series of Client Alerts to highlight the changes surrounding the ECR (Export Control Reform). Below is Part V of the series.
- Part I: State Department Publishes Long-Awaited Interim Final Rule Amending ITAR Brokering Provisions
- Part II: October 15th Export Control Reform Changes Are Around the Corner: Take Time Now to Understand the Impact on Your Existing Licenses & Authorizations
- Part III: License Exception Strategic Trade Authorization: Understanding How It May Work for You
- Part IV: Rolling Out a New Export Control Regime During a Government Shutdown
The first of the President’s Export Control Reform (ECR) initiatives took effect October 15, 2013. U.S. exporters (and reexporters around the globe) are now able to pursue certain benefits of the new regime’s streamlined classification, export authorization, and licensing provisions and requirements. At the same time, the Government has also begun monitoring and enforcing the new rules more strictly; accordingly, exporters and reexporters must understand that they may be held in violation of these changed regulations and subject to penalties. As such, it is important that companies fully understand, implement, and create internal awareness of the new rules. Updating compliance policies and procedures, and training personnel responsible for export functions, are important first steps to preventing noncompliance and associated complications for your business.
Please see full alert below for more information.
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