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$9,000 Penalty for Antiboycott Violations

Friday, February 28, 2014
Sandler, Travis & Rosenberg Trade Report

The Bureau of Industry and Security has entered into a settlement agreement under which a Maryland company will pay a $9,000 civil penalty to settle charges that it committed seven violations of the antiboycott provisions of the Export Administration Regulations. The company was charged with one count of furnishing information about business relationships with boycotted countries or blacklisted persons and six counts of failing to report the receipt of a request to engage in a restrictive trade practice or foreign boycott against a country friendly to the U.S. If the company fails to pay the penalty in a timely manner, BIS may deny all of its export privileges for one year.

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