How much penality an Australian subsidiary of a Minnesota-based exporter, agreed to pay as a civil penalty to settleExport charges that violated the anti-boycott provisions of the EAR in St Jude Medical Export in September 2004?
a. 35000
b. 25000
c. 30000
d. 50000
Answers
Answer:
The anti-boycott laws are a set of regulations in the EAR that essentially prohibit U.S. companies from complying with aspects of other countries' boycotts that the U.S. does not support. Boycott is another name for export controls or embargoes administered by other countries.
Concept: St Jude Medical Export wholesales and distributes surgical and different medical instruments and equipment. The corporate offers' viscus resynchronization, monitor implant, mapping and visual image systems, electrophysiology catheters, and medulla spinalis stimulation and deep brain stimulation devices.
Find: Choose the correct option.
Solution: In September 2004, St Jude Medical Export, an Australian subsidiary of a Minnesota based U.S. exporter, agreed to pay a $30,000 civil penalty to settle charges that it violated the antiboycott provisions of the EAR by its failure to report its receipt of three requests from the Iraqi government agency to adhere to the rules of the Israeli boycott during the 2000-2001 reporting period and its agreement to refuse to do business with blacklisted person.
Final answer: c. 30,000.
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