FTR are crucial for businesses engaged in international trade for several reasons:
Compliance: Adherence to FTR helps businesses avoid legal penalties, fines, and other sanctions. Market Access: Understanding and following FTR is essential for gaining access to foreign markets. Risk Management: Proper compliance minimizes risks associated with international transactions, such as fraud and non-payment. Reputation: Businesses that comply with FTR are often seen as more trustworthy and reliable by partners and customers.