David William

Under IRS rules, buying out your partner constitutes a "change of status" that requires you to get a new federal tax ID number. But because you bought him out earlier this year, there's still time to consider making your spouse or significant other a partner with a 1 percent partnership interest. That way, you'll preserve your status as a partnership and can keep your current tax ID number. Just don't "backdate" any documents, as that will get you in serious legal trouble if you're found out.

Fifteen agencies are involved in the issuance of certificates, export control licenses, and other documentation for purchasing from and selling to overseas partners.The Department of Commerce, Bureau of Export Administration (BXA) provides assistance on export licensing requirements and required documentation for export transactions. Depending on your product, BXA may refer you to another agency, which may include:

• Defense Threat Reduction Agency (DTRA) serves as the U.S. Government focal point for implementing arms control inspection and verification.
• Defense Trade Controls (DTC). The DTC handles: Licensing application for matters of defense trade compliance; defense trade exports and re-transfer; and enforcement and reporting,
• Office of Foreign Assets Control (OFAC) of the Department of Treasury administers and enforces economic and trade sanctions against targeted foreign countries and foreign terrorists.
  Office of Fuels Programs of the Department of Energy licenses natural gas and electric power.
• Division of Management Authority of the Department of the Interior controls the export of endangered fish and wildlife species.
• International Drug Unit of the Drug Enforcement Administration oversees the export of controlled substances.
• International Chemical Control Unit of the Drug Enforcement Administration controls the import and export of listed chemicals used in the production of control substances.

Food and Drug Administration (FDA):
- Office of Compliance: licenses medical devices;
- Import/Export: licenses drugs.
Environmental Protection Agency, Office of Land and Emergency Management regulates toxic waste exports.

Documentary credits are irrevocable, that is, they cannot be amended without approval from all parties. A supplier may not be comfortable manufacturing goods to meet a specific order if the documentary credit representing payment for that order could be amended or cancelled without their knowledge or acceptance. Once a documentary credit is issued, it cannot be assumed that amendments can or will be accepted by the supplier.

Practically all products and markets are affected by one or several of the WTO Agreements, at least for WTO member countries. Progressive liberalization of trade through successive negotiations has led to lower (or zero) import duties, and thus increased export opportunities, especially in developed country markets. It has also created greater predictability of market access by "binding" reduced (or zero) tariff rates.

Most governments impose technical regulations or standards on (domestic and imported) products to protect human, animal or plant life or health, as well as the environment. The Agreements on Technical Barriers to Trade and on Sanitary and Phytosanitary Measures ensure that such requirements do not create unnecessary obstacles to international trade and provide certain rights to exporters. It is up to each exporter to find out about such requirements in the relevant foreign markets.

National enquiry points, which WTO members are required to set up in their countries under certain WTO Agreements, can provide information on national laws and regulations that affect your business. Enquiry points are usually ministries of trade, agriculture or national standardization institutes.

First, consult the rules of origin.

If you still have doubts, ask your national customs authority.

If you want to be absolutely certain, apply for a binding origin information decision (BOI) from the relevant authority in an EU country. Once issued, BOIs are binding for the customs authorities in all EU countries. Note that you will still be required to provide proof of origin.