AEB launches new ITAR software
As part of its comprehensive solution suite ASSIST4, AEB (International) Ltd has released a new software module for efficiently managing goods subject to US ITAR, designed to meet the needs of aerospace and defence businesses to automate and safeguard global trade processes in line with US export control laws.
The US International Traffic in Arms Regulations (ITAR) are governed by the US Department of State Directorate of Defense Trade Controls (DDTC) and control the export and re-export of defence-related articles and services on the United States Munitions List (USML). The related Export Administration Regulations (EAR) are governed by the Bureau of Industry and Security in the US Commerce Department and control all goods on the Commerce Control List (CCL).
It is highly complex and challenging for EU businesses to comply with these US controls and ensure operational efficiency at the same time. AEB’s ASSIST4 Compliance & Risk Management includes all features and functionalities to safeguard global trade processes from procurement to fulfilment – including automated background checks on critical business partners, critical goods and critical countries. The latest enhancement as part of the standard 4.0 product release in May 2016 now also delivers powerful, new solutions for efficient management of UK and US export licences – including the following ITAR functionalities:
• Management of all ITAR licence types
• Revision control for licences to support General Correspondence processes
• Management of agreements like TAA, MLA or WDA, including amendments or re-baselining
• Capture of key master data such as USML, Security Classification, etc.
• Proposal of applicable licence, agreement or exemption for transactions that are controlled
• Automated ITAR statements for shipping documents
• Monitoring of expiry date, depletion status, validity of required documents, and provisos
• A ‘three stock process’ to manage the decrement of items by quantity and value, which monitors the remaining stock to be fulfilled by a supplier, items within stores, and those already dispatched
• Assigning of licences to ITAR items during receipt of goods
Claire Umney (right), General Manager of AEB (International) Ltd, said: “With constantly changing export controls regulations and ever stricter controls across the globe, it’s crucial for businesses to implement the right tools to ensure efficient and secure global trade.
"Our recent product development is a result of our strong engagement with customers and industry experts to identify solution requirements in line with market needs. The new software module for ITAR licence management was specifically designed to meet the needs of our customers in the aerospace and defence industry.
"This close collaboration with customers and partners resulted in the development of a best-in-class solution that we at AEB are very proud of and that will be a powerful asset for aerospace and defence businesses looking to optimize export controls processes and secure their global trade."
AEB’s new ITAR functionality is now available as standard service as part of ASSIST4 Compliance & Risk Management and can be deployed on-premises, accessed as cloud solution hosted in AEB’s certified computer centre, or integrated in ERP systems through direct plug-ins or interfaces.
