What is Denied Party Screening?
Within the context of the shipping industry, denied party screening (also known as restricted party screening) is a process in which due diligence is conducted on the entities that a business is shipping with. Denied party screening ensures that shipping is not being conducted with corporations that are on any sanction lists, or with countries that are on any sanction or embargo lists.
Why is it important?
Screening for denied parties is crucial because businesses that ship goods or provide services to entities on sanctioned or blocked lists are subject to criminal or civil prosecution. Furthermore, shipping with barred entities can result in the termination of export privileges.
The United States government keeps a list of all corporations and countries with denial, blocked and debarment statuses and updates these lists regularly. This makes it even more important to use a shipping software with a reliable denied party screening feature so your shipping lists can be checked regularly and updated with the most recent information. If you’re an exporter, it is actually mandatory to conduct this screening as per the laws of the United States government.
How does denied party screening work?
A good shipping software should automatically scan and check all of the entities that you are conducting business with and warn you if any have a status that puts your organization at risk. ShipConsole’s denied party screening feature lets you quickly and efficiently screen customers, suppliers and trading partners against a comprehensive database of international restricted and denied party lists. It checks many required lists including lists from U.S. Government Agency Sources as well as Foreign and Other Agency Sources. The large volume of these lists makes it a daunting task for Denied Party Screening to be conducted, not to mention that there are often updates to the lists including new additions that must also be considered.
Integration with UPS’s Denied Party API
ShipConsole’s denied party screening feature is offered as a SaaS solution that is tightly integrated with Oracle. It uses UPS’s denied party API to check your organization’s shipping lists and then ensures that it eliminates the risk of shipping to any denied parties.
With ShipConsole, you get an Oracle Shipping Solution that will help you leverage UPS’s APIs and UPS maintained databases. You can trust ShipConsole to perform the necessary cross-checks, validations and return the right results. Furthermore, UPS does a thorough job of maintaining denied party lists, so cross-checks are extensive and up to date.
Aryaman Nichani is the Head of Innovation at ShipConsole. Prior to ShipConsole, Aryaman was the Founder and CEO of ZealMe Incorporated, an artificial intelligence and messaging start up. He successfully sold ZealMe’s technology in 2018. Aryaman has five years of experience in the startup industry and has lived in Silicon Valley, NYC, Bangalore and Boston.
Aryaman attended Trinity College in Hartford, CT where he studied Computer Science and Behavioral Economics. He has also taken courses in Blockchain Technology and Business Management at the Harvard Division of Continuing Education.