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The Importer Security Filing is Just Around the Corner..

January 12, 2010, 10:11 am

Here’s a great article I found in Logistics Management that gives a basic overview of the Importer Security Filing (“10+2″) rule: Complying with the Importer Security Filing. The rule, which goes into full effect very soon – Jan. 26, 2010, will require importers of ocean freight to complete a properly executed Importer Security Filing (ISF). To comply with this rule, the importer must submit 10 pieces of data related to the container’s contents 24 hours prior to loading, and the carrier must submit an additional 2 items no later than 48 hours after departure.

In order to comply with this rule (noncompliance could result in fines and costly supply chain disruptions), importers need to have processes in place that will allow them to classify and store compliance-related product details; screen suppliers against government-maintained restricted party lists; communicate effectively both internally and with partners so that they will have the information needed to complete the requirements; and measure the process with performance metrics.

Implementing Global Trade Management (GTM) technology can mitigate the risk of non-compliance, fines and product delays resulting from Customs 10+2. The hidden benefit, however, is in deploying a level of automation that will allow importers to effectively shift to a Direct Procurement model. Ultimately, the price of complying with heightened security regulations will cost more, but this new business model promises to generate a new stream of benefits for the importer. For further information on complying with the ISF, and tips on how GTM technologies can help you, please check out our 10+2 Practical Guide.

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Category: ISF Compliance  |  Comment (RSS)

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