EXIM Wiki

Anti-Boycott Compliance

Anti-Boycott Compliance refers to adhering to U.S. laws that prohibit companies from participating in foreign boycotts not sanctioned by the U.S. government. This includes refusing to do business with blacklisted countries or complying with boycott-related requests in contracts and documents. Violations can lead to significant penalties and loss

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Compliance Risk Assessment

Compliance Risk Assessment involves identifying and evaluating potential risks associated with non-compliance to laws and regulations. This process helps organizations understand the likelihood and impact of compliance issues, enabling them to implement strategies to mitigate these risks. For example, assessing risks in export activities can prevent legal violations and financial

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Export promotion councils

Export Promotion Councils (EPCs) are organizations set up by the Indian government to promote and support the export activities of various sectors. EPCs provide guidance, market information, and support for exporters, helping them expand their international market reach and comply with global trade regulations. They also organize trade fairs and

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Export Violations

Export violations occur when a company or individual fails to comply with export control regulations and laws. These violations can include unauthorized exports, failure to obtain required licenses, providing false information on export documentation, and exporting to prohibited destinations or parties, often resulting in severe penalties, fines, or legal action.

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Foreign Direct Investment (FDI)

Foreign Direct Investment (FDI) refers to an investment made by a company or individual from one country into business interests located in another country. It’s a long term investment typically involves significant ownership and control over the foreign business operations. FDI is a key driver of economic growth, providing

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Harmonized System (HS) Code

The Harmonized System (HS) Code is an internationally standardized system of names and numbers for classifying traded products. Developed by the World Customs Organization (WCO), the HS Code is used by customs authorities worldwide to identify goods, apply tariffs, and gather trade statistics. It ensures consistency and efficiency in international

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Import of capital goods

The Import of Capital Goods refers to bringing in machinery, equipment, and tools necessary for production processes. These imports are often encouraged by governments to boost industrial and economic growth. In India, schemes like the Export Promotion Capital Goods (EPCG) scheme provide duty concessions for importing capital goods, thus helping

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License Exception

A license exception is a regulatory provision that allows the export or re-export of certain items without the need for an individual export license. These exceptions are granted under specific conditions outlined by export control regulations, facilitating trade while ensuring compliance with national security and foreign policy objectives, thus simplifying

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Master Document

A Master Document is a comprehensive, authoritative document that consolidates and organizes all necessary information and documentation related to a particular process, project, or transaction. In international trade, a master document may include contracts, invoices, certificates, and other critical documents. It serves as a reference point, ensuring consistency and completeness

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Sanctions

Sanctions are measures imposed by governments or international trade bodies to restrict or prohibit trade and financial transactions with specific countries, entities, or individuals. Sanctions aim to achieve foreign policy and national security objectives by exerting economic pressure to influence behavior and compliance with international norms, often targeting those involved

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Uniform customs & practice for documentary credits (UCP)

The Uniform Customs & Practice for Documentary Credits (UCP), introduced in 1933, is a set of internationally recognized rules published by the International Chamber of Commerce (ICC) to standardize the use of documentary credits in trade finance. Letters of credit are issued and operated based on the rules and regulations

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Value-Added Tax (VAT)

Value-Added Tax (VAT) is a consumption tax levied on the value added to goods and services at each stage of production or distribution. It is collected by businesses on behalf of the government and is ultimately borne by the end consumer. VAT is a common method of taxation in many

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