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What Is Denied Party Screening?

Ensuring you’re not doing business with restricted parties is crucial to avoid severe penalties and maintain compliance with export regulations. How do you do that? This video explains. ********** Restricted Party Screening Software (try it for free!): https://www.shippingsolutions.com/int... Free guide, How to Create and Implement and Export Compliance Program: https://www.shippingsolutions.com/whi... Get a Free Demo of Shipping Solutions: https://www.shippingsolutions.com/dem... Export Controls Software: https://www.shippingsolutions.com/int... Find 100s of articles about exporting on Passages: The International Trade Blog: https://www.shippingsolutions.com/blog Free guide, What You Need to Know About Export Compliance: https://www.shippingsolutions.com/whi... ********** Denied party lists identify organizations, companies or individuals that U.S. agencies—and other foreign governments—have flagged as parties to avoid due to their ties to terrorism, corrupt practices, or threats to national security. As an exporter, it’s your responsibility to check these lists for every export transaction through a process known as denied party screening. What Is a Denied Party Screening? Denied party screening involves checking a potential customer or business partner against various restricted party lists to ensure they’re not on any of them. This process is also referred to as restricted party screening. Although the terms are used interchangeably, there are slight differences. Denied parties have been explicitly denied export privileges, while restricted parties may face partial or whole export restrictions. To stay compliant, you need to check multiple lists, including the Consolidated List and more than 200 others from various U.S. government departments like Commerce, State, Treasury, Justice, Homeland Security, and Defense, among others. Failing to comply with export regulations can have severe consequences. Penalties include fines up to $1 million per violation for criminal cases, and administrative cases can result in fines up to $300,000 or twice the transaction value. Additionally, violators can face up to 20 years in prison and denial of export privileges. No company is too small to be noticed; everyone must exercise due diligence. How to Perform Denied Party Screenings With so much at stake, you need a plan for conducting denied party screenings. Here are some key points: —Screen all entities involved in your transactions, including vendors, suppliers, resellers, customers, end users, service providers, freight forwarders, customs brokers, and financial institutions. —Screen several times throughout your business relationship, especially before shipping orders or exchanging money. Even long-term partners should be rescreened before each new transaction. Using Shipping Solutions Software for Denied Party Screenings Manually checking a couple hundred lists for every export transaction can be overwhelming. That’s where Shipping Solutions software comes in. Shipping Solutions’ Restricted Party Screening Software simplifies this process by screening all the lists at once. The screenings are automatically stored in an audit trail, ensuring you have a record of your compliance efforts. There’s a link below to try it for free. How to Respond to a Denied Party Screening Match Unfortunately, matches happen. Here’s how to respond: 1. Follow Your Company’s Export Compliance Program (ECP) First, follow your company’s export compliance program, which should include who to notify, what procedures to follow to review the match, and how to document your decisions. If you don’t have an ECP in place, you can download our free guide on how to create one. You’ll find the link below. 2. Hold the Order or Shipment for Further Review Secondly, you need to hold the shipment for further review. Reliable restricted party screening software will provide detailed information to help you make a final determination. 3. Document All Your Compliance Efforts And thirdly, keep records of every screening, the results, and decisions made. Thorough documentation demonstrates your commitment to compliance, which can be a mitigating factor if you face any issues. ************ Chapters 00:00 Introduction 01:01 What Is a Denied Party Screening? 01:34 Lists Checked in a Denied Party Screening 02:28 How to Perform Denied Party Screenings 02:39 Who Should Be Screened? 03:11 Using Shipping Solutions Software for Denied Party Screenings ********** Subscribe to this channel for more practical advice for exporters and importers.    / @shippingsolutions   *********** #exportdocumentationsoftware #exportdocuments #usexportinghelp #usexportdocuments #restrictedpartyscreening #exportcompliance #compliance #ITAR #DDTC