BIS Offset Reports Due Mid-June
The Bureau of Industry and Security recently reminded exporters (here) that annual reports of offset agreements related to the sale of defense articles or services to foreign countries and firms are due June 15. U.S. companies are required to report…
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to BIS annually on sales subject to offsets agreements over $5 million in value, or performance of offsets valued at $250,000 or more under existing commitments. An example of this type of agreement is offsetting the cost of a foreign government’s purchase of military aircraft by providing training assistance to plant managers in the country, said BIS.