The Top 10 BDP blogs of 2022

In this blog, we learn the basics behind this principle of maritime law and how a party who has suffered extreme financial loss in order to save property belonging to others has the right to be compensated for such loss. 

A series of new international regulations that target vessel efficiency and carbon intensity will take effect and be known as IMO 2023. Three measures have been approved to meet the target set by the IMO Initial GHG Strategy – to reduce the carbon intensity of all ships by 40%. 

Managing a streamlined supply chain for cross-border cargo transportation entails much more than identifying the fastest, most efficient method of getting cargo from point A to point B. Current market challenges have been amplified due to the pandemic and now go beyond ensuring cargo arrives at the final destination on time. The safety of transportation workers as a result of internal processes is now at the forefront of cross-border transportation. After all, if the truck driver is not healthy enough to deliver the products, the products do not move. In the new normal, worker safety is more important than ever. 

Trade compliance management involves the process and procedures by which goods/products are either imported or exported from a country. This critical supply chain component requires vast knowledge and expertise within the realm of laws, rules, and regulations surrounding international trade as individual countries have varying compulsory requirements. With a complex and evolving landscape of international trade regulations, ensuring a fully compliant supply chain can be challenging, which can leave a company vulnerable to both financial and reputational risks. 

Over the years, companies have designed various strategies on how to screen their international orders. Many strategies use very tight protocols when it comes to their algorithms for names and then have policies on how to manage the order. We see many different government agencies with various lists, some lists are direct “red” lights, for which all orders must be stopped - while some lists are “yellow”, indicating to proceed with caution. An example would be a listing known as a “UV” unverified entity.