GLOBAL TRADE COMPLIANCE / INTELLIGENCE
GLOBAL TRADE CONTENT AND COMPLIANCE
Multinationals are cooperating worldwide through networks neatly linked to each other, across all borders. Manufacturing takes place where it can be done the fastest and cheapest way, even if it is on the other side of the world. Goods produced in a country can be shipped to multiple countries across the globe.
Global Trade Content and Compliance (GTCC) solution is designed to simplify cross border trade and keep shipments moving without interruption. GTCC solution enable the trade community, especially customs brokers, importers and exporters, to meet all of the requirements governing the movement of commercial goods into and from any particular country.
KEY MODULES AND eSERVICES
- Harmonized System Code Auto-Classification
- Permit and License Advisory
- FTA Analyzer
HARMONIZED SYSTEM (HS) CODE AUTO-CLASSIFICATION
HS Codes are used by Customs Administrations all over the world to classify products that are imported or exported. Matching products to HS code is a tedious process and most of the time requires someone with years of experience in Customs declaration.
CrimsonLogic’s HS Code Auto-Classification eService uses our patent pending Artificial Intelligence (AI) technology to help our customers find the correct HS Code to use for their products in the most efficient manner. It does not require prior knowledge in customs declaration.
PERMIT AND LICENSE ADVISORY
An essential part of trade compliance is to ensure that all import and export requirements are met, such as having the appropriate license and permit from the regulatory authorities
Permit and Licenses Advisory eService provides one-stop service to those who need to understand permit and license requirements for their import, export and transshipment activities. The eService allows users to input with their trading activity as natural text, for example, “import of frozen sirloin beef”, and provides the specific permit and license requirement accordingly.
Countries sign bilateral and multi-lateral Free Trade Agreements (FTA) with each other to benefit businesses doing cross border trading. The FTA Analyzer allows this customer segment to find out whether the goods they are dealing with qualifies for any special tariff rates based on agreed FTA between countries.
FTA Analyzer eService analyses and processes all FTA among countries, their qualifying criteria such as preferential rules of origin, and the respective duties rates. Utilizing the above knowledge, the system assists users to find the lowest tariff rates which their product qualified for.