LogicTrade®
Restricted Party Screening (RPS)
Trade compliance includes knowing who you are doing business with. Many governments forbid trade with black-listed players or organizations. Our software solution rapidly identifies all of them.
A Growing Risk
Penalties and prosecutions are increasing for companies that trade, even unwittingly, with listed parties or entities deemed irresponsible or a threat to national security. In 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) levied more than $1.3 billion in fines, up from only $71 million in 2018. Clearance through a U.S. bank or in USD is all that matters, not your geographic location.
Consolidated: More Than 100 Lists
There are more than 100 government agency denied-party lists worldwide that must be scanned to assure compliance. Logicus’s TradeSphere RPS software consolidates them all. Updated daily, it provides a fast and comprehensive way to identify embargoed parties listed by the U.S., Canada, the European Union, the United Nations and many other countries.
Automated Due Diligence Without IT
LogicTrade RPS is insurance and governance in one low-effort software service for trade departments. As a full-compliance specialist and not a software vendor, Logicus has developed a convenient web interface that doesn’t have to be added to an ERP system or administered by IT. Comprehensive screening is done manually whenever needed. Re-screening occurs automatically with government updates.
All Possibilities Identified
Who should be screened? Any customer for any product or good destined for export. LogicTrade RPS screening requests are processed through a series of proprietary algorithms. All variations of names and potential issues are flagged. Matches are entered into a shortlist and you are notified. Any possible conflict can be further searched and resolved.
Reporting: Proof On Demand
With LogicTrade RPS you are covered in the case of government audit. All your search results are maintained in a central database that can be accessed anytime you need a report. Included are screening dates and results and actions taken. There is no better proof of due diligence.
Uncover the vulnerabilities in your international trade practices.
Our FREE 10-minute Trade Compliance Health Check can help you find gaps in your international trade procedures. Receive a web-based report on your trade compliance readiness. Get information to help guide your improvement efforts. Minimize risk and boost your competitiveness.
How can we help you?
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