Why this matters to buyers
Highlights the risk of customs fraud within the supply chain. Buyers may face financial and reputational risks if their suppliers are found to be non-compliant with customs regulations.
Recommended buyer actions
- Review and strengthen due diligence procedures for suppliers, particularly regarding customs compliance.
- Request documentation and certifications related to import duty payments from key suppliers.
- Consider including stronger customs compliance clauses in supplier contracts.
Original source context
A New York-based plastic bag manufacturer has settled allegations that it cheated the U.S. government on import duties after agreeing to a multi-million payment. The post Plastic-bag manufacturer settles allegations of customs fraud for $7.3M appeared first on FreightWaves.
Read the original report · FreightWaves