Tools and Best Practices for Informed Compliance

Tools and Best Practices for Informed Compliance

Thomson Reuters
Published by: Research Desk Released: Oct 14, 2020

Tools and Best Practices for Informed Compliance

The term “Informed Compliance” was formally introduced in the United States with the enactment of the Customs Modernization and Informed Compliance Act (the Mod Act) in 1993. Under the concept of Informed Compliance, trade compliance is considered a shared responsibility between Customs and the trade community.

Today, there is a greater recognition in most countries that trade compliance is a shared responsibility and that Customs administrations have a responsibility to educate importers on what is expected of them. With that comes a responsibility for the business community to take concrete steps to ensure that they are complying with applicable laws and regulations.

Download our whitepaper on tools and best practices to assist all copmanies actively involed in global trade to thrive in today’s world of Informed Compliance and to achieve optimal performance while minimizing penalties.