International Trade, Do You "Know Your Customer"?

Knowing your customer is a vital component of a Company’s ‘due diligence’ obligations.

Failure to comply with international and local regulations, particularly as they impact Export Controls, can have a serious impact on a business in terms of fines, penalties and even eventual withdrawal of the ability to trade internationally.

Know Your Customer (KYC) is the process businesses put in place to verify the identity of customers, clients and suppliers.

This process involves the evaluation of the potential for illegal or restricted activities that may impact on an export or delivery, as well as giving consideration to any restrictions on any onward export of procured goods subject to other country controls

The clinic will be a valuable source of information for all those engaged in international trade particularly supply chain, sales, purchasing, and customer service.

This clinic will cover two main topics;

‘Know Your Customer -Exporting’

‘Know Your Customer Purchasing/Buying’ with particular focus on; due diligence, red flags, denied party screening and export controls.