{"id":2087,"date":"2013-11-13T16:56:04","date_gmt":"2013-11-13T22:56:04","guid":{"rendered":"http:\/\/supfrt.com\/news\/?p=2087"},"modified":"2013-11-13T16:56:04","modified_gmt":"2013-11-13T22:56:04","slug":"trade-compliance-recordkeeping-exporters-working","status":"publish","type":"post","link":"http:\/\/supfrt.com\/news\/2013\/11\/13\/trade-compliance-recordkeeping-exporters-working\/","title":{"rendered":"Trade Compliance &#8211; Recordkeeping for Exporters"},"content":{"rendered":"<div><span style=\"text-decoration: underline;\"><strong>Trade Compliance &#8211; Recordkeeping for Exporters<\/strong><\/span><a href=\"http:\/\/supfrt.com\/news\/wp-content\/uploads\/2013\/11\/filing-cabinets.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignright  wp-image-2092\" alt=\"filing cabinets\" src=\"http:\/\/supfrt.com\/news\/wp-content\/uploads\/2013\/11\/filing-cabinets-300x130.jpg\" width=\"240\" height=\"104\" srcset=\"http:\/\/supfrt.com\/news\/wp-content\/uploads\/2013\/11\/filing-cabinets-300x130.jpg 300w, http:\/\/supfrt.com\/news\/wp-content\/uploads\/2013\/11\/filing-cabinets.jpg 341w\" sizes=\"(max-width: 240px) 100vw, 240px\" \/><\/a><\/div>\n<div><\/div>\n<div><em><strong>Each agency has its own regulations:<\/strong><\/em><\/div>\n<ul>\n<li>Bureau of Industry and Security (BIS):\n<ul>\n<li>15 CFR Parts 762 and 772<\/li>\n<\/ul>\n<\/li>\n<li>Directorate of Defense Trade Controls (DDTC):\n<ul>\n<li>22 CFR Part 122.5<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>What Export Records Must be Kept for BIS?<\/strong><\/p>\n<p>Export control documents and related documents listed in EAR Part 762.2 and in the definition of \u201cExport Control Document\u201d Part 772.\u00a0 For example:<\/p>\n<div>\n<div>\u2022Licenses, applications and supporting materials<\/div>\n<div>\u2022Evidence of Delivery<\/div>\n<div>\u2022AES records<\/div>\n<div>\u2022Bills of Lading<\/div>\n<div>\u2022Memoranda<\/div>\n<div>\u2022Notes<\/div>\n<div>\u2022Correspondence<\/div>\n<div>\n<div>\u2022Contracts<\/div>\n<div>\u2022Invitations to bid<\/div>\n<div>\u2022Books of account<\/div>\n<div>\u2022Financial records<\/div>\n<div>\u2022Restrictive trade practice or boycott documents and reports<\/div>\n<div>\u2022Other records pertaining to transactions<\/div>\n<div><\/div>\n<\/div>\n<\/div>\n<p><strong>Who Must Keep BIS Records?<\/strong><\/p>\n<div>Any person subject to the jurisdiction of the United States who is participating in the following:<\/div>\n<ul>\n<li>Exports of items from the U.S. and any known reexports, transshipments, or diversions of items exported from the U.S.<\/li>\n<li>Any other transaction subject to the EAR, including negotiations subject to those transactions.<\/li>\n<\/ul>\n<p><strong>How Long Should BIS Records be Kept? <\/strong><\/p>\n<p><em><strong>5 years<\/strong> <\/em>from the latest of the &#8211;<\/p>\n<ul>\n<li>Export from the U.S. of the item<\/li>\n<li>Any known reexport, transshipment, or diversion of such item or<\/li>\n<li>In the case of records pertaining to transactions involving restrictive trade practices, the date the regulated person receives the request or requirement.<\/li>\n<\/ul>\n<p><strong>In What Form Should BIS Records be Kept?<\/strong><\/p>\n<ul>\n<li>Original records must be retained in the form in which received or created<\/li>\n<li>Reproductions of originals can be maintained, if the requirements set out in Part 762.5 of the EAR are met<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>What <span style=\"text-decoration: underline;\">DDTC<\/span> Documents Must Be Kept?<\/strong><\/p>\n<ul>\n<li>Records concerning the manufacture, acquisition and disposition of defense articles<\/li>\n<li>Records concerning the provision of defense services<\/li>\n<li>Records concerning brokering activities<\/li>\n<li>Information on political contributions, fees, or commissions furnished or obtained, as required by part 130 of the ITAR<\/li>\n<\/ul>\n<p><strong>Who Must Keep DDTC Records?<\/strong><\/p>\n<div>Records should be kept by any company who is required to register with DDTC.<\/div>\n<ul>\n<li>Registration<\/li>\n<li>License applications<\/li>\n<li>All other records related to any transactions, for product sold in the U.S. or exported<\/li>\n<\/ul>\n<p><strong>How Long Should DDTC Records be Kept?<\/strong><\/p>\n<div>Period of <em><strong>five years<\/strong> <\/em>from:<\/div>\n<ul>\n<li>the expiration of the license or other approval, including exports using an exemption or<\/li>\n<li>the date of the transaction (e.g., expired licenses or other approvals relevant to the export transaction using the exemptions)<\/li>\n<\/ul>\n<p><strong><strong>In What Form Should\u00a0DDTC Records be Kept?<\/strong><\/strong><\/p>\n<ul>\n<li>Records may be kept in electronic media but must be legible and easily retrievable;<\/li>\n<li>Information must be stored in such a manner that none of it may be altered once it is initially recorded<\/li>\n<li>Missing records is a compliance \u201cred flag\u201d to DDTC<\/li>\n<li>DDTC may prescribe longer or shorter retention period in individual cases<\/li>\n<\/ul>\n<p>Read more at: <a href=\"http:\/\/globalreach.blogs.census.gov\/2013\/10\/30\/record-retention\/\">Global Reach &#8211; Record Retention<\/a><\/p>\n<p>More details: <a href=\"http:\/\/www.bis.doc.gov\/index.php\/forms-documents\/doc_view\/429-part-762-recordkeeping\">BIS &#8211; Part 762<\/a>\u00a0and\u00a0<a href=\"http:\/\/pmddtc.state.gov\/regulations_laws\/documents\/official_itar\/2013\/ITAR_Part_123.pdf\">ITAR &#8211; Part 123<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trade Compliance &#8211; Recordkeeping for Exporters Each agency has its own regulations: Bureau of Industry and Security (BIS): 15 CFR Parts 762 and 772 Directorate of Defense Trade Controls (DDTC): 22 CFR Part 122.5 What Export Records Must be Kept for BIS? Export control documents and related documents listed in EAR Part 762.2 and in [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":2092,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":""},"categories":[6,17,70],"tags":[49,14,113,50,71],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trade Compliance - Recordkeeping for Exporters - Superior Freight Services Inc.<\/title>\n<meta name=\"description\" content=\"Trade Compliance - Recordkeeping for Exporters - Each agency has its own regulations. 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