Published in Inbound Logistics, February
For anyone new to the world of global trade, it’s easy to feel overwhelmed by the complexity of import compliance. Scott Byrnes, vice president of marketing for Amber Road (formerly Management Dynamics), offers these 10 basic tips for new importers.
Build a personal glossary — Trade compliance is an alphabet-soup of abbreviations and acronyms regarding trade regulations, shipping terms, government agencies and more. Creating a list of and becoming familiar with these abbreviations is a good first step.
Understand the Importer Security Filing (ISF) requirements — Originally known as “10+2,” the ISF affects goods shipped to the United States via ocean. It specifies 12 data elements that must be submitted prior to goods being allowed to enter the US. The importer is responsible for ten of them, and the carrier must provide two – but ultimately, the importer of record is on the hook for accurate filings.