All companies within the EU and therefore also in the Netherlands must comply with the legally binding laws and regulations of the EU and the Netherlands regarding trade compliance. This means that trade compliance checks are mandatory. If you have foreign trading partners, other rules must also be taken into account, depending on the country in which they are established.
For example, U.S. compliance laws apply when your company’s customers, suppliers, or other business partners are located in the United States. The same applies to Germany, the United Kingdom, Japan, etc. Compliance checks are based on the idea of doing business only with reliable trading partners.
Compliance the rules under control
If your company is AEO certified, your company runs the risk of losing its AEO status if it does not comply with the applicable rules and regulations.
Using an ICT solution, compliance checks can be performed manually or automatically. Given the large number of updates of the sanction lists per country, manual checks cost a lot of time and therefore a lot of money.
Advantage Compliance contains the following modules
- Sanctioned Party Lists Screening (SPL-screening): checks whether organisations and individuals are on the sanction lists of the EU, , Germany, Switzerland, United Kingdom, USA (different lists), Canada, Australia and Japanese sanction lists.
- Export control: goods level control. End use: are they normal, dual-use or strategic/military goods? Control of country of destination: are there embargoes?
- Tariff classification: supports the classification of goods in the Customs Tariff
And something else: all modules are also available as easy to integrate SAP plug-ins.
A more efficient way is to use a trade compliance software solution. Our dbh trade compliance solution ‘Advantage Compliance’ offers you compliance with the most commonly used compliance rules (e.g. EU, NL, US etc.) where the relevant compliance checks are carried out automatically.
Advantages are: preventing fines or costs as a result of damaged reputations of companies by getting involved in undesirable ‘situations’.