Many companies face the challenges of staying informed when new entities are added to the Restricted Party List. Your company may have the advantage of engaging a global trade management supplier and implementing an automated screening program. If your company hasn’t made that decision and is manually screening using the BIS (Bureau of Industry and Security) consolidated list, it can be an arduous task. For Example, there were 28 new Chinese entities added to the BIS Entity List October 9, 2019 and Huawei Technologies Co. Ltd and of its affiliates were added to the Entity List 8/21/19.
Export Screening is an essential element of a strong export compliance program and will reduce the risk of violating the Export Administration Regulations (EAR). Trade Resources & Associates can help your company develop a robust export screening program.