Exporters: Who is the USPPI? It could be YOU! From Global Reach~ The USPPI is the person or legal entity in the United States that receives the primary benefit, monetary or otherwise, from an export transaction. The following parties can be the USPPI: U.S. seller (wholesaler or distributor) of goods for export U.S. manufacturer (if selling the goods for … [Read more...]
$9.4 Million Penalty for Violations with OFAC & BIS
$9.4 Million Penalty for Violations with OFAC & BIS With over 100 violations, Alcon Pharmaceuticals Ltd. (of Fribourg, Switzerland) and Alcon Laboratories (Dallas/Fort Worth, TX) have agreed to pay a total of $9.4 million in penalties to settle charges that it violated U.S. economic sanctions and export controls by engaging in the sale and exportation of medical end-use … [Read more...]
Company Fined for Antiboycott Violations
Company Fined for Antiboycott Violations A Texas company, RHDC International, LLC, will pay a civil penalty of $9,000 to settle charges from The Bureau of Industry & Security (BIS) that it committed five violations of the antiboycott provisions of the Export Administration Regulations. The allegations involved transactions involving the sale and/or transfer of goods, … [Read more...]
U.S. Exporters: Destination Control Statements (DCS) Changing
U.S. Exporters: Destination Control Statements (DCS) Changing The U.S. Bureau of Industry and Security (BIS) and the Department of State issued dual Federal Register notices on August 17th finalizing a common destination control statement (DCS). When required, the DCS should be included on the exporter’s commercial invoice. The new DCS, which will take effect November 15, … [Read more...]
CEO Pleads Guilty to Conspiring to Export Specialty Metallurgical Metals to Iran
CEO Pleads Guilty to Conspiring to Export Specialty Metallurgical Metals to Iran Erdal Kuyumcu - CEO of Global Metallurgy, LLC, a company based in Woodside, NY, pleaded guilty to one count of conspiring to violate the IEEPA [International Emergency Economic Powers Act] in connection with the export of specialty metals from the U.S. to Iran. Kuyumcu [U.S. citizen] pleaded … [Read more...]