Last Updated: 09/09/2024
ABDULLAH MOHAMMED AL RUZIQI SPC ("Company," "we," "us," or "our"), registered under CR Number 1476768, with a Commercial Name of ABDULLAH MOHAMMED AL RUZIQI SPC, and a legal type of Sole Proprietor Company, is committed to full compliance with all applicable export control and economic sanctions laws and regulations. This Export Compliance Policy ("Policy") outlines our commitment to adhering to these laws and the procedures we have in place to ensure compliance.
Export controls and economic sanctions are legal measures implemented by governments to regulate the export of goods, technology, and services for reasons related to national security, foreign policy, and economic protection. These laws impose restrictions on the export, re-export, and transfer of certain products and services, especially those with potential military or dual-use applications. As an international company, we recognize the importance of these regulations and are committed to compliance with all applicable laws in the countries where we operate.
This Policy applies to all employees, contractors, agents, and partners of ABDULLAH MOHAMMED AL RUZIQI SPC, as well as any subsidiaries or affiliates. It covers all transactions, including the export, re-export, transfer, and distribution of goods, software, technology, and services to international markets. Compliance with this Policy is mandatory and non-negotiable.
Export Controls and Regulations
We are committed to complying with all relevant export control laws and regulations, including but not limited to:
-
Omani Export Control Laws - As a company based in Oman, we comply with the Omani laws and regulations governing the export and re-export of goods, technology, and services from Oman.
-
U.S. Export Administration Regulations (EAR) - For any products or technology subject to U.S. jurisdiction, we comply with the EAR, which controls the export and re-export of U.S.-origin goods and technology.
-
International Traffic in Arms Regulations (ITAR) - For any defense-related goods or services, we ensure compliance with ITAR, which governs the export of defense articles and services.
-
Economic Sanctions Programs - We adhere to economic sanctions programs administered by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), the United Nations, the European Union, and other applicable sanctions authorities.
Restricted and Prohibited Parties
We will not engage in business transactions with individuals, companies, or countries that are subject to trade restrictions or economic sanctions. This includes parties listed on the U.S. Department of Commerce's Denied Persons List, the OFAC Specially Designated Nationals (SDN) List, the European Union’s Consolidated Financial Sanctions List, and any other applicable restricted party lists. Before proceeding with any transaction, we conduct thorough screening to ensure that no prohibited parties are involved.
Licensing Requirements
Certain exports may require an export license or other government authorization. It is our policy to obtain all necessary licenses before exporting, re-exporting, or transferring controlled goods, software, or technology. We work closely with legal counsel and relevant government agencies to ensure that all licensing requirements are met. Employees involved in export transactions are responsible for understanding when a license is required and for following the proper procedures to obtain one.
Due Diligence and Internal Controls
To ensure compliance with export control laws, we have implemented robust internal controls and due diligence procedures, including:
- Screening Procedures - We conduct screening of customers, vendors, and other third parties against restricted party lists before engaging in any transaction.
- Documentation - We maintain detailed records of all export-related transactions, including licenses, shipping documents, and communications, in compliance with recordkeeping requirements.
- Training - We provide regular training to employees involved in export-related activities to ensure they understand their responsibilities and the legal requirements.
-
Audit and Monitoring - We regularly audit our export compliance program and monitor transactions to identify and address any potential compliance issues.
Penalties for Non-Compliance
Violations of export control laws can result in severe penalties, including fines, imprisonment, and loss of export privileges. Non-compliance can also lead to significant reputational damage and disruption of business operations. We take these risks seriously and enforce strict disciplinary measures for employees, contractors, or agents who violate this Policy or applicable export laws.
Reporting and Escalation
Employees are encouraged to report any suspected violations of export control laws or this Policy to the Compliance Officer or through our confidential reporting channels. All reports will be investigated promptly and thoroughly. Retaliation against employees who report concerns in good faith is strictly prohibited.
Policy Review and Updates
This Export Compliance Policy is subject to regular review and updates to ensure that it remains effective and aligned with current laws and regulations. Any changes to this Policy will be communicated to all employees and relevant stakeholders.
Governing Law and Jurisdiction
This Export Compliance Policy and any disputes arising out of or related to it shall be governed by and construed in accordance with the laws of Oman, without regard to its conflict of law principles. Any legal action or proceeding arising out of or related to this Policy shall be brought exclusively in the courts of Oman, and you hereby consent to the jurisdiction of such courts.
11.Contact Information
If you have any questions or concerns regarding this Export Compliance Policy or need assistance with export-related matters, please contact us at:
ABDULLAH MOHAMMED AL RUZIQI SPC
P.O. Box: Halban / Nakhal / South Al Batinah Governorate 201
Postal Code: 323, Oman
Email: Admin@ruzaiqi-machinery.com
Phone: +968 76955110
