International Trade Compliance We comply with all export control, economic sanctions and customs.
THE GE WAY
• We comply with global trade controls and economic sanctions that prohibit us from doing business with certain countries, entities, and individuals.
• We comply with applicable customs requirements for the importation and exportation of goods.
• We maintain policies regarding State Sponsors of Terrorism (SSTs) that require government authorization to proceed with a transaction.
KEY TERMS
• What is an import? The movement of a physical item into one country from another country. All countries regulate the importation of goods and assess duties and taxes based on the value of the goods. Import and Customs requirements typically focus on physical items and not intangible transfers.
• What is an export? The movement of a physical item, software or technology from one country to another country. Many countries regulate exports based on the sensitivity of the items from a national security perspective. Exports can include emails, file transfers and conversations in addition to the shipment of goods.
YOUR ROLE
Customs • Use only GE-approved Customs agents. • Follow all business procedures relating to the import of goods.
• Provide accurate, complete and timely information to your business customs teams for import transactions including classifying goods.
• Ensure you fully comply with special program requirements before claiming reduced duty rates.
Export Controls
• Use the export classification of goods, software and technology to determine if they require government authorization for export.
• Follow Know Your Customer / Know Your Supplier policies to ensure Watchlist screening.
• Ensure your export does not support prohibited end uses, such as nuclear proliferation and military end uses in certain countries.
• Do not do business with SSTs and/or sanctioned countries without approval.
• Do not cooperate with any boycott of Israel or any other restrictive trade practice.
HELP CORNER
S&L International Trade Compliance Policy
COMMERCIAL COMPLIANCE EXCELLENCE / International Trade Compliance THE SPIRIT & THE LETTER
ITC Portal | 15
POLICY SPOTLIGHT
Request guidance from your business ITC leader or legal counsel if you are unsure how to proceed with your
export/import transaction. Find them on
itc.ge.com
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