Bureau of Industry and Security June 9, 2017 – Federal Register Recent Federal Regulation Documents

This notice is intended to remind the public that U.S. companies are required, pursuant to the Defense Production Act of 1950, as amended (DPA), to report annually to the Department of Commerce (Commerce) information on contracts for the sale of defense articles or defense services to foreign countries or foreign companies that are subject to offsets agreements exceeding $5,000,000 in value. Consistent with the DPA, U.S. companies are also required to report annually to Commerce information on offsets transactions completed in performance of existing offsets commitments for which an offsets credit of $250,000 or more has been claimed from the foreign representative. Such reports from calendar year 2016 must include relevant information and must be submitted to Commerce no later than June 15, 2017.