SOURCE: Integration Point
CHARLOTTE, NC--(Marketwired - May 15, 2014) - Integration Point, a provider of global trade management software, released a product to assist with Country of Origin determinations. This new offering is part of the Integration Point Global Trade Management Solution that provides global visibility and localized knowledge for 160+ countries on a single, web-based platform. Country of Origin determinations are complex because each importing country has its own rules to be followed, and each must be taken into consideration when preparing goods for export and import.
Integration Point Country of Origin Determination automates the determination process based on the appropriate Marking Rules of Origin for each country, as well as bundles the pertinent regulations and rulings for reference. Companies can then submit the origin decisions to Customs to obtain a Binding Ruling determination, or retain them as evidence that "Reasonable Care" has been taken and a consistent process is followed.
Integration Point Country of Origin Determination allows companies to:
- View Origin Marking Rules for imports to a given country
- Access Binding Rulings for Country of Origin and/or Marking Decisions
- Search the Integration Point Global Trade Content database for Country of Origin and/or Marking Binding Rulings that have already been determined
- Facilitate Country of Origin determination and Origin Marking Rules for an import country
- Store Country of Origin determinations for historical and audit purposes
"Customs authorities in many countries have intensified their enforcement of import regulations, especially the origin marking regulations," said Audrey Garrett, Import Compliance Manager - Americas, Flowserve Corporation. "In order to correctly mark product with origin, an Importer must first properly determine the origin of the product and second correctly mark it in accordance with those regulations. Companies need quick and reliable access to their origin data, the different regulations, as well as a degree of automation to ensure consistency in the process. Without those things, the company is subjected to the risk factor of delays, seizure and/or penalties."
"As the global trade industry changes, so do the needs of those participating in that arena," said Ginger Catizone, Origin Product Manager at Integration Point. "The development of the Country of Origin Determination product was in direct response to a need in the industry. Companies today have to go through a laborious process of searching the rules of origin text to find the information -- a process that could take hours if not days. Companies need to be able to determine Country of Origin rules in an automated fashion using data that is up-to-date."
About Integration Point
Integration Point delivers global visibility and localized knowledge for 160+ countries on a single, web-based platform. Providing solutions for import/export management, product classification, free trade agreement qualification, denied party screening, drawback, foreign-trade zones, global duty deferral programs, supply chain security, entry validation, broker management, document management, and trade management, Integration Point offers a comprehensive suite of products encompassing all geographies, industries and trade programs. Integration Point assists companies with increasing supply chain visibility, performing internal and external audits, maintaining regulatory compliance and managing global trade.
Contact Integration Point at http://www.IntegrationPoint.com or 704-576-3678