| # Introduction to Global Trade Compliance The Global Trade Compliance functionality is introduced to manage import and export compliance, which can be used to check if specific items can be exported to a specific country or 'from or to' a specific business partner. This functionality is also used to: Execute internal or external checks, or both. The internal checks are executed in Infor LN and the external checks are executed using an external application. Create and maintain export licenses. This information is used during the internal compliance check. For more information, refer to Global Trade Compliance. Customs Authorization For an enterprise to obtain the maximum benefits of a specific import and/or export process, an authorization from the customs authorities is required. This authorization is stored in the application as a customs authorization. This authorization specifies the information such as the type of authorization, the time frame during which the customs authorization can be used, and the items and quantities for which the customs authorization is valid. Infor LN allows you to import, with duty exempted, the material and products that are used in the export of goods (after adjusting the allowance for the wastage of material). For more information, refer to Customs Authorization Overview. Inward Processing The process of importing subsidized material or product with the purpose for export is termed as Inward Processing. To encourage the export of goods, a government provides a subsidy on the import of raw material or goods with the objective of using these goods to create a product or material that can be exported. The imported material or goods can be exported in the same form or can be processed and exported as different material or product. You can implement this functionality in these scenarios: The imported goods or raw material are exported (without value addition) The imported goods or material are used to produce another product, and this product is exported. For more information, refer to Import and Export Process related to Inward Processing. Export Incentives Export incentives are the benefits offered by the government, to enterprises to increase the exports from a country. The incentives are claimed by the company (exporting enterprise) after the goods are shipped. The export incentive process involves: Defining Export Incentives Defining an Export Incentive Scheme Creating a shipment line Creating an Export Incentive Line Creating an Export Incentive Claim For more information, refer to Export Incentives. |