Practices

Trading globally may give consumers and countries the opportunity to be exposed to new markets and products. Almost every kind of product can be found in the international market, for example: food, clothes, spare parts, oil, jewellery, wine, stocks, currencies, and water. Services are also traded, such as in tourism, banking, consulting, and transportation. A product that is transferred or sold from a party in one country to a party in another country is an export from the originating country, and an import to the country receiving that product.

International Traffic in Arms Regulations (ITAR) is a United States regulatory regime to restrict and control the export of defense and military related technologies to safeguard U.S. national security and further U.S. foreign policy objectives.

The Export Administration Regulations (EAR) govern whether a person may export a thing from the U.S., reexport the thing from a foreign country, or transfer a thing from one person to another in a foreign country. The EAR may apply to physical items as well as technology and software.

The Federal Acquisition Regulation (FAR) is a set of clauses within the Code of Federal Regulations that describes the rules for contracting with the federal government. Federal government agencies, as well as government contractors that win a contract, are regulated by the FAR and must follow the procurement rules and policies set forth within it.