{"id":156,"date":"2010-04-02T15:12:15","date_gmt":"2010-04-02T21:12:15","guid":{"rendered":"http:\/\/trgbond.wordpress.com\/?p=156"},"modified":"2021-07-16T09:28:18","modified_gmt":"2021-07-16T15:28:18","slug":"importexport-recordkeeping-best-practices","status":"publish","type":"post","link":"https:\/\/traderiskguaranty.com\/trgpeak\/importexport-recordkeeping-best-practices\/","title":{"rendered":"Record Keeping Best Practices for Importers and Exporters"},"content":{"rendered":"<h3>TRG attended another successful event hosted by the International Compliance Professionals Association (ICPA) this past March.<\/h3>\n<p>With educational sessions ranging from the Pros and Cons of <a title=\"Contact Strix Smart for information about self-filling your entries.\" href=\"https:\/\/strixsmart.com\/\" target=\"_blank\" rel=\"noopener\">Direct-filing<\/a> to Understanding Incoterms, attendees were buzzing about the depth of knowledge presented at this conference.\u00a0Mike Laden of TRG Direct presented Import\/Export Recordkeeping Best Practices.<\/p>\n<h2>Recordkeeping Best Practices<\/h2>\n<ul>\n<li><strong>Electronic<\/strong> \u2013 Keeping your records in an electronic format will allow you to expedite the document retrieval process as well as implement the following best practices.\u00a0This will also allow your information to be stored in an \u201con-demand\u201d centralized location. Electronic storage will need to be approved by Customs &amp; Border Protection (CBP).<br \/>\n<i>*Your policies and procedures should require you to keep the originals for 120 days and all electronic records a minimum of 5 years!*<\/i><\/li>\n<li><strong>Policies &amp; Procedures Comprehensively Documented<\/strong> \u2013 CBP expects to see that you have policies in place prior to an audit. The policy must ensure the preservation of integrity, readability, and security of the information contained in the original records.\u00a0Include in your procedures a standardized retrieval process for your records.<\/li>\n<li><strong>Completely Crossed Referenced<\/strong> \u2013 If the document relates to information elsewhere, be sure to make that connection.<\/li>\n<li><strong>Exception Files<\/strong> \u2013 Your import\/export records should be able to \u201ctell a story\u201d.\u00a0Policies should require that any and everything be stored.\u00a0If there was an email about it, store it. When in doubt, store it!<\/li>\n<li><strong>Audited Before Storage<\/strong> \u2013 Set up a procedure for internal auditing of your documents as they move to storage. Penalties may result for negligence and failure to maintain records.\u00a0This could be $10,000 per violation and each missing document could be considered a violation!<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p> TRG attended another successful event hosted by the International Compliance Professionals Association (ICPA) this past March.  With educational sessions ranging from the Pros and Cons of Direct-filing to Understanding Incoterms, attendees were buzzing about the depth of knowledge presented at this conference.  Mike Laden of TRG Direct presented Import\/Export Recordkeeping Best Practices.<\/p>\n","protected":false},"author":1,"featured_media":5829,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[581],"tags":[177,189,71,194,75,380,221,466,244],"_links":{"self":[{"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/posts\/156"}],"collection":[{"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/comments?post=156"}],"version-history":[{"count":14,"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/posts\/156\/revisions"}],"predecessor-version":[{"id":10649,"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/posts\/156\/revisions\/10649"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/media\/5829"}],"wp:attachment":[{"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/media?parent=156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/categories?post=156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/tags?post=156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}