Overview

Global trade practice requires companies to have access to and use the current trade data available. There are many types of trade data available with various sources, both nationally and internationally. Failure to use the most up-to-date data can result in inaccurate screenings, which may lead to significant fines and penalties, delays, revocation of trade privileges, and lost revenues. Examples of trade content include, but are not limited to:

• Denied Party Screening Lists
• Harmonized System and Classification Information
• Tariff and Duty Rates
• Binding Rules and Regulations
• Free Trade Agreement Information

Every company must abide by its government's import/export policies. Oracle Global Trade Management (GTM) assists companies by:

• Identifying business transactions which violate regulations or lack the required licenses
• Classifying the goods using the Harmonized Commodity Description and Coding System
• Consolidating the transaction details required for customs filing
• Helping to determine if goods are eligible and qualify for trade programs and trade agreements

Each business transaction involves many parties. However, the companies cannot conduct business with any party that has been labeled as a restricted party by the governmental authority. The authorities publish the list of restricted parties from time to time. GTM provides the functionality to download these lists from any third party data content provider and perform screening of involved parties against the list of "Restricted" parties identified by the government.

Similarly, GTM helps users to download, update, or view product classification data and other related compliance elements for prompt and accurate customs filing.

This document is about the details and the format of the documents/data downloaded from the content provider and the data mapping between the content provider and GTM.

Note:

This document is about the existing flow between GTM and a third party data content provider.