By Alexander Maasik
When selling goods on a global market, one needs to follow all the rules to avoid fines and legal trouble. Denied Party screening is vital for that. As one of these rules is that there are many people and organizations who are not allowed to buy certain goods or take part in cross border trade at all.
There are a lot of people in international sanctions lists with whom a marketplace is not allowed to do business. There are also many country specific lists. In total, there are hundreds of different lists sellers should check before selling goods to a customer.
There are many reasons some people and organizations end up in denied party lists. Most notably, the lists include terrorist organizations and international criminals. Therefore, it is pretty understandable why you would want to make sure you don’t deal with customers like that.
If a company fails to check customers, there is a chance to lose one’s export license. In addition to fines and other restrictions.
Luckily, Eurora™’s Denied Party Screening service can automatically check all your customers while they are shopping in your marketplace. Making sure, denied party screening is not something you need to worry about.
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Eurora™’s Denied Party Screening service
To reduce the risks for ecommerce sellers, logistics companies and postal operators, Eurora has developed an automated screening service.
Eurora™’s Denied Party Screening service scans people and organizations against the national and international restricted party lists. The service includes an extensive range of government and international agency issued lists and is continuously updated. All screenings and results are automatically logged.
Like our other services, Denied Party Screening can easily be added to a marketplace’s shopping cart via our API, so that the system checks customers while they are trying to finalize their purchase. If the system finds that a customer can be a threat, it will pause the transaction and allow you to do due diligence yourself.
What’s more, Eurora logs all queries done while screening individuals and organizations. That makes it possible to demonstrate that your company has gone through the necessary due diligence. This alone can help you protect against fines and investigations into your trade practices.
When it comes to international trade, companies need to do all in their power in order to stay compliant. But that can become costly and slow down the flow of goods. That is why Eurora offers a variety of services in addition to the Denied Party Screening. All of Eurora’s solutions are scientifically proven to work. And they aim to automate the trade processes and to reduce the costs of shipping goods across the globe.
These services include among others Prohibited & Restricted Item Screening, HS-code Allocation and Duty & Tax Calculation.
While one can only use one or some of these services, Eurora™’s AI works best if implemented fully. Don’t hesitate to reach out to see how our Intelligent Cross Border Compliance Platform can help you.
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