S. Gregory Joy

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American businesses and their subsidiaries working in Kuwait or pursuing business opportunities in that country need not be reminded that they must comply with Kuwaiti business laws and regulations. They will not be transacting business in Kuwait for very long if they do not comply with Kuwaiti law. Equally important are American laws regulating the transaction of business by American companies and their subsidiaries outside the United States. Two of the most important American statutes of concern to Americans transacting business outside the United States are the Foreign Corrupt Practices Act of 1977 ("FCPA"), as amended, and the antiboycott provisions of the Export Administration Act of 1979, as amended.

Compliance with these statutes is often inconvenient and can be frustrating given accepted business practices in some parts of the world. However, the penalties for violations of these statutes are sufficiently severe to outweigh the benefits of intentionally violating their provisions. The provisions, applications, and practicalities of these statutes are addressed herein.