Various Restricted Party Screening Lists & Requirements

The denied party screening process refers to a due diligence evaluation of a company's internal lists to verify that transactions are not being done with companies on sanctioned lists, watch lists, concern lists, and other lists, as well as countries that are declassified or sanctioned.

Denied party screening and limited party screening are done to meet with the safety criteria of governments and agencies across the world. The denied party screening process involves comparing restricted party screening lists to internal catalogues of customers, vendors, suppliers, employees, transactions, and so on.

Individuals and businesses may be placed on various restricted party screening lists, which specify the various restrictions that shippers wanting to deal with these parties must meet.

• When it comes to denied parties, shipping privileges are usually strictly denied. Individuals and businesses in the United States are forbidden from shipping products or providing services to anybody on these lists. These individuals/entities pose a higher threat to US national security and foreign policy objectives.

• Restricted parties are eligible to obtain items and services from people and businesses in the United States; but, they must go through further review processes. Due diligence for US businesses shipping to prohibited parties and delivering services to them sometimes necessitates unique and special licences.

• The presence of a "red flag" is frequently indicated by parties of concern. A government agency has been unable to authenticate the end-user in previous transactions in these circumstances. These red flags must be resolved before any transactions can be completed, otherwise the shipper could suffer stiff consequences.

Linqsdata offers web based solutions for companies looking to simplify their restricted party screening process.