Understanding Restricted Parties Screening

As we know from our Article, "A Brief History of Denied Parties Screening", Restricted Parties Screening began in the 1970s after the Export Administration Act of 1969 was enacted as an official government function when processing exports.

Since of this Act, government agencies worldwide have created restricted parties screening lists that they add entities to (individual people, companies, organizations, and countries) when those entities have violated that agency’s export rules and regulations (e.g. political unrest, repeated regulation violations, trade sanctions, ties to terrorism, etc.).

Restricted Parties Screening can change at any time; from once a month to multiple times in a day under certain conditions. The Global Wizard Restricted Parties module is updated, in real-time, whenever there are changes made to any of the source lists.

WHO PUTS THE WHO IN RESTRICTED PARTIES?

Here is just an insufficient of the databases that Global Trade Management to provide you with a real-time, centralized resource for your restricted parties’ screenings:

Consolidated Screening Lists

Office of Foreign Assets Control - OFAC

U.S. Department of State

European Union Sanctions List

US Commerce Department's Denials List

United Nations (Security Council) Sanctions

"WHAT IF I WANT TO INCLUDE MY OWN RESTRICTED PARTIES ENTITIES?"

Your company might have a history with explicit entities that makes you just not want to do business with them.

Non-payment or slow payment of previous transactions

Constantly returns product, disputes warranty, or service terms

Filed litigation against the company

Has a public history of unethical or immoral practices

While many RPS (Restricted Party Screening) services do not allow you to add your own entities or create your own restricted parties list, WorkSeer offers this useful feature. Check out our Article on using this innovative tool within the Restricted Parties module to create a custom restricted parties list.

The Restricted Party Screening (RPS) program screens all orders and customers against the latest Restricted party lists. Screening can take place at different steps in the transaction workflow – behind the scenes as the order moves from the EPR or legacy system to the WorkSeer application, at the time of order creation, or before shipping. The system puts any suspected shipments to Restricted parties hold. The user has the ability to override any false positive hits, after making sure that the party is legitimate. This ensures the highest degree of compliance and peace of mind to the exporter.

Our Restricted Parties Screening module accurately and efficiently screens your partners and customers against more than 200 up-to-date lists of restricted parties and entities, embargoed countries, and debarred individuals. WorkSeer users not only conduct their business with increased confidence in compliance but also operate with improved speed and efficiency by allowing WorkSeer to automatically prepare and submit required compliance documents.

When using WorkSeer, users access the most comprehensive database of trade content in the global trade management industry. This database is comprised of information for more than 200 countries and includes data on Harmonized Tariff Schedules, ECCN, Country Chart, Export/Import Controls, and more. When it comes to compliance, make the switch to WorkSeer to finally gain the import/export peace of mind that you deserve.

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