Over the past several weeks, our law firm has seen a big increase in the number of Brexit-related phone calls and emails. Naturally, business people from all over the world are concerned about Brexit and want to know how it’s going to affect their international business operations. The inquires range from the simple (what IS Brexit?) to the more complex (will UK insurance … [Read more...]
How to Supercharge Your Exports with a Third-Party Logistics Provider (3PL).
“I have a problem,” the caller said to me. “Our company's textile factory in Vietnam has been sitting idle for several weeks." The caller explained that it's cotton supplier was unable to clear its shipping documents with customs officials. I asked whether the company had a back-up plan to find an alternative supply. "No," replied the caller. "We didn't think we'd ever need … [Read more...]
How Safe are the Sochi Olympic Games?
A special guest post by Global Security Consultant and Political Risk Expert, Paul Crespo. This is the latest post in the series. The 2014 Olympic Winter Games began today in Sochi, Russia. Numerous U.S. multinational corporations such as McDonald’s, Coca Cola, Proctor & Gamble and Visa are sponsoring or participating, and 10,000 Americans are expected to attend. … [Read more...]
The World’s First Bitcoin Lawsuit—in the United States?
Have you ever received an email that is so fascinating that you have to read it out loud to make sure you that you read it correctly? I received one of those several days ago. The email asked the following question: “This past summer I purchased [factory equipment] in [Country X] with Bitcoin. I never received the equipment and [the supplier] won’t respond to my messages. … [Read more...]
Japan’s New 24-Hour Advance Manifest Rule Takes Effect on March 10, 2014.
On March 14, 2014, Japan will join the global effort to make things more difficult for exporters secure supply chains against international terrorism with the implementation of it’s own “24-hour rule.” First implemented by the U.S. in 2002, the 24-hour advance manifest rule requires all inbound cargo carriers to submit complete manifests a full 24 hours before leaving their … [Read more...]
Don't Let Shipping Piracy Sink Your International Business.
A special guest post by Global Security Consultant and Political Risk Expert, Paul Crespo. This is the latest post in the series. With the dramatic growth of global commerce more businesses rely on maritime shipping to get their goods and raw materials to market. The release of the Tom Hanks film "Captain Phillips" depicting the 2009 hijacking of the US merchant ship Maersk … [Read more...]
Cyber Attack – 3rd Biggest Threat to International Business
A special guest post by Global Security Consultant and Political Risk Expert, Paul Crespo. This is the sixth post in the series. With larger and costlier data breaches being reported every day, cyber security is quickly moving from being seen by C-level executives as a purely technical security issue, to a top business risk for global corporations. Cybercrime and … [Read more...]
Political Risk Insurance: Why Your International Business Must Have It.
A special interview with Global Security Consultant and Political Risk Expert, Paul Crespo This is the first in a series of posts dealing with global security and risk management. While companies doing business internationally generally protect themselves against numerous risks, political risk is often ignored or accepted as fate. While there are many ways to manage and … [Read more...]
Top 25 Cities for International Trade.
The latest issue of Global Trade Magazine ranks the Top 25 Cities for International Trade. The ranking is based on the largest export volume increase in 2011. This approach is different than the International Administration's Top 50 ranking, which is largely the same every year. Houston and New York topped the list with a combined increase of $44 billion. That's leaps and … [Read more...]
Why “10 + 2” Does Not Always Equal 12: What You Need to Know About the U.S. Importer Security Filing Rule.
Last month I received an email from a potential foreign client regarding the Importer Security Filing (ISF) Rule, known in the international shipping industry as the “10+2” Rule. Specifically, this person wanted to know what the penalties were for failing to comply with the rule’s filing requirements. I’m not sure whether it was a coincidence or whether the writer knew that … [Read more...]