Import and export regulations can be complicated and violations may occur accidentally. Whether it is a shipment that was exported without a license, or a license exception was used when a license should have been obtained, a voluntary disclosure may be a good option for your business.

If a company believes a violation of the regulations has occurred a Voluntary Self Disclosure, under BIS, or a Voluntary Disclosure, under DDTC, is an option to report the possible violation to these agencies.

Voluntary disclosures are considered as a mitigating factor, in determining if penalties are likely to be sanctioned against the company, and can work in your favor. BIS have stated that they consider voluntary self disclosures as an indicator of a company’s intent to comply with the regulations.

How We Can Help

Trade Consulting Services can conduct investigations, isolate the root cause, identify any mitigating factors, and implement corrective actions to ensure violations are unlikely to occur.

As part of this approach, we will conduct periodic audits to ensure that corrective actions have been implemented and are working properly. We can also assist in the drafting of the Voluntary Disclosure to ensure all the relevant details are reported.

If you think a Voluntary Disclosure is required for your company, don’t panic! Get in touch with our experts and we will discuss the options with you to ensure the continuity of your business. You can speak to a member of staff by calling 214-810-0204.

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