Medium-High Risk

A Detailed Due Diligence Review, Analysis and Approval Process that Reduces Screening Costs

For medium to higher risk third parties, TRACE offers both members and non-members a comprehensive due diligence review and approval process that vets and trains third parties on anti-bribery compliance. This process is based on internationally recognized due diligence procedures that have evolved over the course of the last decade as a result of TRACE’s experience conducting due diligence and benchmarking the best practices of hundreds of multinational companies.

TRACEcertification is the only due diligence review, analysis and approval process available that allows third parties to own their verified due diligence information. TRACEcertification portable due diligence reports are packaged for the purpose of sharing third party verified due diligence information with an unlimited number of business partners.

A TRACEcertification report contains a wealth of anti-bribery compliance information establishing that the intermediary has been thoroughly vetted, trained and certified by TRACE.

TRACEcertification provides ongoing monitoring of third party relationships with constant screening of names against international sanctions and enforcement lists that are updated every 24 hours.

What’s Included in the Report?

  • Detailed company information, including information on subsidiaries and affiliated entities
  • Business registrations, as applicable
  • Corporate literature or a company description
  • Beneficial ownership (except for shareholders owning less than 5% of publicly-traded companies)
  • Identification of directors and key employees
  • Curriculum vitae for owners, directors and key employees
  • Additional ownerships, directorships and employment of all owners, directors and key employees
  • Current government employment of owners, directors and key employees
  • Previous government employment of owners, directors and key employees
  • Contact information for three business references
  • One financial reference or audited financial statement
  • Media search dating back ten years in a comprehensive international database
  • Denied party screening and two negative media searches
  • Intermediary code of conduct

memberAs an exclusive member benefit, TRACE Corporate Members may sponsor their third parties to receive this comprehensive due diligence review, analysis and approval process at a discounted rate.

TRACEcertification is not a guarantee against past or potential wrongdoing by the certified entity or a guarantee against potential liability. A summary of any “red flags” identified during the TRACEcertification review will be included in the report, but not all red flags preclude TRACEcertification. Companies doing business with the TRACE Certified entity should request a full copy of the underlying report.

“In many ways, the shipping industry is exposed to more levels of corruption than any other industry,” says Alexandra Wrage, TRACE president and founder, in this article from Splash 247. To read the full piece,

Recent News Feed April 21 2015 Read More