Defense Cos. Face Hazards In New Push For Foreign Sales
By Dietrich Knauth (April 21, 2014, 7:03 PM EDT) -- While many U.S. defense companies are hoping that foreign military sales can help them weather a prolonged slump in military sales at home, cross-border sales hold several risks for the unwary, including heavy fines and criminal penalties for violating export controls and anti-bribery laws.
The U.S. government has encouraged its defense industry to expand weapons sales to allies, both through its Foreign Military Sales program, in which U.S. contractors fulfill weapons sales brokered and controlled by the U.S. government, and the Foreign Military Financing program, in which foreign countries subsidized by U.S. funding buy directly from American contractors. Both offer opportunities...
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