Know Your Counterpart – Take It Through The Technology
Do you know your trade partners, freight forwarders, customers, custom brokers, supply chain partners, vendors, etc.? You can land yourself into trouble if you don’t.
It is necessary that you communicate with the trade partners who are thoroughly screened and monitored. However, doing so in a traditional procedure of manually verifying against the lists provided by the federal organizations, international customs department of countries, etc. would consume an enormous amount of time and effort.
Therefore, you need smart tools to know your counterpart and discover about them. You can utilize this tool to:
Screen for chemical and biological weapon proliferation
Screen for nuclear proliferation
Screen for anti-boycott compliance
Screen for arms and ammunition
Screen for restricted military country end-use
Screen for diversion-risks and country-specific warnings
Apart from that, you can screen your partners from time to time and flag them if any irregularities are discovered. The restricted party lists will be updated with the latest regulations for staying current and correct.
If you apply to Know Your Customer for all trading partners, you would be able to access information for routine and further checks. With embedded screening functionality and high-quality security access, you can ascertain that you won’t have issues while dealing with existing and new trade partners.
With the help of technology, the prolonged procedures in examining, verifying, and approving/rejecting a trade partner would come to a halt. The screening software isn’t going to burn your pocket at all. You can consult the experts for reliable suggestions.