The one thing we can say about 2020 is that it will, in fact, be a memorable year. Many of us would likely be willing to forget much of what occurred this year, present company included. However, despite these challenges, PAP has undergone a complete compliance transformation this year. As much as we all have …
Suppose you are part of the sales, compliance, or logistics teams within a Precision Aerospace Products (PAP). In that case, there are no worries about shipping our products to third-party domestic sellers located in the United States, right? After all, the products we are selling are staying in the U.S. We are not exporting them …
US Domestic third-party sales have little to no risk, right? Read More »
As the end of 2020 rolls around, certainly, a year that we will be glad to move forward from, I wanted to recap the Company’s compliance posture for the year. Yes, 2020 brought many changes to PAP, PPI, PFC, and C&S. From a compliance standpoint, these changes were well overdue and necessary. Business Initiatives. From …
If you are a supervisor and have supervisory responsibilities, it is crucial for you to understand the need and requirement to review your subordinates’ expenses and expense reports diligently. Your duty is to the Company – defined as a fiduciary responsibility. From a legal point of view, fiduciary responsibility is defined as: “An individual in …
The Importance of Reviewing Your Employees Expense Reports Read More »
Precision Aerospace Products is committed to full compliance with all U.S. laws and regulations and the laws of all other jurisdictions related to international trade activities. PAP’s products, software, services, and technical data (technology) are subject to export and reexport controls administered by the United States, and are subject, when applicable, to the export controls …
I wanted to underscore the importance of protecting company assets. Generally, company assets include physical assets as well as commercial or technical information that is used in business and offers an advantage over competitors who do not know or use such information. For example, a trade secret may be a formula for a chemical compound, …
Export violations, even accidental ones can have significant reputational and financial consequences. If a Company is serious about upholding high compliance standards, they will generally do whatever it takes to stay on the right side of the law. Sometimes, though, it can be too much. How you can possibly be too compliant? After all, more …
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