- THE MAGAZINE
The government shut down has affected many businesses’ ability to get vital trade information from government websites, such as BIS. During this time, how can companies can get the information they need from alternative sites?
Companies can still get information on product classifications and restricted party screening, as well as other information such as calculating landed, cost for free on Amber Road’s cloud-based portal for global trade, TradeWizards.com.
TradeWizards.com is a free cloud-based portal for global trade; it is a suite of nine different research tools to help organizations quickly answer questions related to cost and compliance risks associated with importing and e-porting goods.
"Companies both large and small are increasingly turning to globalization strategies to increase revenue and lower costs," says Nathan Pieri, senior vice president of product management and marketing at Amber Road. "With global trade, however, comes the added complexity of understanding how government regulations and tax regimes impact a particular order or shipment. TradeWizards.com helps answer those questions with a suite of decision-support tools, available at no charge and easily accessible via the cloud."
Users can register for this service at TradeWizards.com. Each subscription offers a complimentary number of transactions per month for a limited number of users per company. Nine different modules are available in each of the following solution areas:
Restricted Party Screening helps users screen the parties to a transaction against 40 different lists to determine whether a company or individual has been sanctioned for making illegal transshipments, violating import or export regulations, or performing illegal acts
Product Classification helps users classify products in over 120 countries. This includes the Harmonized Schedule (HS), export control numbers (ECN) and Schedule B classification systems. In addition, users can also map a classification from one country to another and perform complex classifications for commodities such as watches, sets, and ores
Landed Cost helps users calculate landed cost for an import or export transaction, including all duties, taxes, customs fees, port charges and other governmental charges. Many companies use this module to make more informed sourcing decisions and/or quote more accurate pricing to foreign buyers
TradeWizards.com is a streamlined version of Amber Road's Trade Wizards solution, which is presently used by companies around the world to make better global trade decisions. Upgrading to the paid version of Trade Wizards offers unlimited transactions and additional capabilities in the areas of export and import controls and trade documents.