The US-Korea (KORUS) Free Trade Agreement went into effect on 15 March 2012, after years of discussions between the two governments. KORUS, or UKFTA as it is also known, has been touted as one of the most significant trade agreements for the US since the North American Free Trade Agreement (NAFTA). Within hours of the KORUS FTA going into effect, an Integration Point customer and US Exporter generated a KORUS-compliant Certificate of Origin to a customer importing into Korea.
Integration Point's Free Trade Agreement Management (FTA) Software allows companies to manage multiple trade agreements in one web-based system. Companies can:
- Qualify Bills of Materials against multiple free trade agreements simultaneously
- Automate and manage supplier solicitation from initial request to certificate receipt
- Manage multiple free trade agreement programs in one integrated system
- Generate accurate customer certificates once product eligibility is met
- Manage documentation in a central location for qualification and auditing purposes
- Provide access to a portal for suppliers to create certificates
- Access up-to-date rules of origin at any time
According to Kevin Shoemaker, Vice President of Global Solutions at Integration Point, whose responsibilities include the product roadmap for Integration Point Free Trade Agreement Management Software, "With the growing trend of FTAs going into force, sourcing decisions are becoming more complex. Integration Point FTA Management Software makes leveraging these agreements easier and more efficient on both sides of the equation the supplier and the importer. Integration Point has a team of trade specialists making sure our customers have the most current global regulations delivered in real time."