Executive Briefings

Managing Risk with Restricted (Denied) Party Screening

If your company engages in global trade, you know that you have no choice but to screen every party to an export transaction. The Patriot Act and many government agencies require you to "know your customer"-as well as the banks, carriers and freight forwarders you do business with.

Screening price quotes, export orders and quotes against restricted party lists was significantly easier a decade ago. U.S.-based exporters were required to review them against only three lists-those issued by the U.S. Departments of Commerce, State and Treasury. Today, each department produces multiple lists, many of which are updated almost daily, as well as its own criteria for determining commodities that can be shipped to each party. To further complicate the process, the UN, EU, Canada, Japan and other countries maintain their own lists. To be in compliance, exporters must screen orders and shipments against all relevant restricted party lists, typically those applied/issued by the exporting country.

Please CLICK HERE to view this White Paper.

If your company engages in global trade, you know that you have no choice but to screen every party to an export transaction. The Patriot Act and many government agencies require you to "know your customer"-as well as the banks, carriers and freight forwarders you do business with.

Screening price quotes, export orders and quotes against restricted party lists was significantly easier a decade ago. U.S.-based exporters were required to review them against only three lists-those issued by the U.S. Departments of Commerce, State and Treasury. Today, each department produces multiple lists, many of which are updated almost daily, as well as its own criteria for determining commodities that can be shipped to each party. To further complicate the process, the UN, EU, Canada, Japan and other countries maintain their own lists. To be in compliance, exporters must screen orders and shipments against all relevant restricted party lists, typically those applied/issued by the exporting country.

Please CLICK HERE to view this White Paper.