SANTA BARBARA, Calif. -- February 26, 2020 -- QAD Precision, an industry-leading provider of global trade compliance and transportation execution software, has announced the release of a USMCA Benchmark Tool that supports companies checking their readiness to comply with the rules of origin in the new United States - Mexico - Canada Agreement (USMCA). QAD Precision is a division of QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB).
“Goods that qualify for preferential duties under NAFTA may no longer be eligible once the USMCA comes into force. The opposite may also apply. There are significant changes related to preferential rules of origin, including changes to Regional Value Content, substantial transformation, and the de minimis threshold to name a few,” said QAD Precision President Corey Rhodes.
To check their preparations for USMCA rules of origin readiness using the tool, companies answer a series of four questions. Once the answers are submitted, participants receive an email explaining the issues identified. The tool is complimentary for any company that wishes to check their USMCA rules of origin readiness and is offered without obligation. The USMCA Benchmark Tool can be found here. Companies qualifying goods under the USMCA need to do so in compliance with the published legislation.
QAD Precision also provides Free Trade Agreement (FTA) software that enables companies to determine FTA origin in real-time and within fractions of a second. The solution complies with the requirements for all Free Trade Agreements recognized by the World Trade Organization. Companies who wish to verify their products under the USMCA will be able to do so with QAD Precision Free Trade Agreement once the agreement has been ratified by all three signatory countries.
About QAD Precision – Trusted Global Trade and Transportation Execution
QAD Precision, a division of QAD Inc., provides industry-leading global trade compliance, and multi carrier transportation execution solutions from a single, integrated platform. An ISO-certified company, QAD Precision assists companies to streamline their import, export and transportation operations, optimize deliveries, and increase logistics ROI. QAD Precision’s scalable and extensible solution easily integrates with existing ERP and WMS solutions. Industry leaders in every region of the world rely on QAD Precision’s global support centers to leverage thousands of carrier services and manage millions of global trade and shipping transactions every day. For more information about QAD Precision, visit www.qadprecision.com or email email@example.com.
QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB), is a leading provider of flexible, cloud-based enterprise software and services for global manufacturing companies. QAD Adaptive ERP for manufacturing supports operational requirements in the areas of financials, customer management, supply chain, manufacturing, service and support, analytics, business process management and integration. QAD's portfolio includes related solutions for quality management software, supply chain management software, transportation management software and B2B interoperability. Since 1979, QAD solutions have enabled customers in the automotive, consumer products, food and beverage, high tech, industrial manufacturing and life sciences industries to better align operations with their strategic goals to become Effective Enterprises.
To learn more, visit www.qad.com.
"QAD" is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.
Note to Investors: This press release contains certain forward-looking statements made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding projections of revenue, income and loss, capital expenditures, plans and objectives of management regarding the company's business, future economic performance or any of the assumptions underlying or relating to any of the foregoing. Forward-looking statements are based on the company's current expectations. Words such as "expects," "believes," "anticipates," "could," "will likely result," "estimates," "intends," "may," "projects," "should," "would," "might," "plan" and variations of these words and similar expressions are intended to identify these forward-looking statements. A number of risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. These risks include, but are not limited to: risks associated with our cloud service offerings, such as defects and disruptions in our services, our ability to properly manage our cloud service offerings, our reliance on third-party hosting and other service providers, and our exposure to liability and loss from security breaches; demand for the company's products, including cloud service, licenses, services and maintenance; pressure to make concessions on our pricing and changes in our pricing models; protection of our intellectual property; dependence on third-party suppliers and other third-party relationships, such as sales, services and marketing channels; changes in our revenue, earnings, operating expenses and margins; the reliability of our financial forecasts and estimates of the costs and benefits of transactions; the ability to leverage changes in technology; defects in our software products and services; third-party opinions about the company; competition in our industry; the ability to recruit and retain key personnel; delays in sales; timely and effective integration of newly acquired businesses; economic conditions in our vertical markets and worldwide; exchange rate fluctuations; and the global political environment. For a more detailed description of the risk factors associated with the company and factors that may affect our forward-looking statements, please refer to the company's latest Annual Report on Form 10-K and, in particular, the section entitled "Risk Factors" therein, and in other periodic reports the company files with the Securities and Exchange Commission thereafter. Management does not undertake to update these forward-looking statements except as required by law.