Compliance with foreign law

Compliance with foreign law

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Compliance with foreign law by Mind Map: Compliance with foreign law

1. Industry standards

1.1. One type of foreign security standard is the "CE" mark required for the importation of certain products into the European Community. That has issued directives related to security standards. Products that do not comply with these directives are subject to the seizure and evaluation of fines.

2. Foreign customs laws

2.1. There are export destination countries may have restrictions on the amount of products that can be imported. For this reason it is prohibited to import products that exceed these amounts.

3. Contracts with the government

3.1. Competitive public tenders and compliance with invitations to bidding and procurement regulations may be required, government purchases may qualify for exemptions from customs duties, import quotas or licenses. Bartering or compensation may be necessary.

4. American equivalent purchase

4.1. Foreign governments often design preferential treatment for products supplied by manufacturers in their own country, giving them an absolute preference that is reflected in the price

5. Exchange controls and import licenses

5.1. For a US exporter wishing to receive a payment, it is extremely important to determine: (1) if there is a change control system and if an import license is necessary in the foreign country. (2) what periods of time are necessary to obtain such licenses. (3) the conditions that must be met and the documentation that must be provided so that the importer can obtain said licenses.

6. Value added tax

6.1. Many countries impose a value-added tax on the production and distribution stages. These taxes generally apply to imported goods, so that the importer, in addition to paying customs duties, must pay a value-added tax, usually on the customs value plus the duties.

7. Specialized laws

7.1. Foreign countries often enact specialized laws that prohibit the importation of certain products, except in compliance with those laws. Some laws of the United States regulate all products manufactured in the United States; others do not apply to products that are manufactured for export.

8. Before exporting to a country, it is necessary to know its laws regarding its restrictions or prohibitions that our product may present in a new country. We can obtain this information from the clients, however it is better to confirm the information with government agencies, lawyers and others.