Letter of credit (L/C) professionals in the US are being urged to familiarise themselves with the new ruling on electronic filing by the US Commerce Department.

The mandatory Automated Export System (AES) final rule became effective on 30 September 2008.

Electronic filing

Exporters are now required to file electronic export information using AES and provide proof of AES Filing. A shipper's export declaration was previously required.

Citation to the carrier must be a minimum of 24 hours prior to the loading of the cargo.

Exporters and importers

The Bureau of the Census, and Customs and Border Protection, a unit within the US Commerce Department, is overseeing the implementation and operation of AES.

The electronic filing requirement applies when any type of goods to be shipped is valued at more than US$2,500 or requires an export license under US law.

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