Due Diligence Portable Due Diligence

Portable Due Diligence

A new way of approaching due diligence that benefits both multinational corporations and their third party intermediaries.


TRACE Portable Due Diligence Solutions offer a new approach to third party due diligence with products that eliminate screening costs for multinational corporations. This new model shifts the responsibility for vetting anti-bribery concerns to intermediaries who – once approved – maintain their own verified compliance information. TRACE’s pre-vetted “portable” reports allow intermediaries to reduce the number of repetitive requests and share their verified compliance information with all of their business partners. For global companies, the expense and lag time associated with the vetting process is eliminated, allowing projects to move forward with confidence and without delay.

TRACE has spent over a decade researching and defining anti-bribery and third party compliance standards, earning the reputation of being the globally-recognized due diligence organization. TRACE Portable Due Diligence Solutions are based on internationally accepted best practices and are further enhanced by TRACE’s experience and familiarity with the compliance needs of multinational corporations and their business partners.

Benefits

  • Shift the burden of screening third parties away from companies
  • Eliminate most of the expense and delay associated with the vetting process
  • Enable third parties to share their verified due diligence information with all of their business partners
  • Offer ongoing monitoring of third party relationships with daily screening of names against international sanctions and enforcement lists
  • Provide certified intermediaries with a valuable business credential—widely recognized in the compliance community—for successfully completing the due diligence gold standard
  • Eliminate outdated third party information
  • Simplify third party recertification process for companies
TRACE Portable Due Diligence Solutions: TRAC and TRACEcertification

 Option 1: Baseline Due Diligence Information, Including Ownership and Business Structure

This 48-hour baseline due diligence solution and global identification platform allows companies to efficiently exchange verified compliance information online. TRAC is designed to satisfy the requirement for companies to perform baseline due diligence on global business partners to a reasonable, international standard while providing third parties with an efficient way to quickly share key business information.

TRAC holders enjoy the following benefits:

  • Ability to share baseline due diligence information with a mouse click
  • Effortless compliance with a 48-hour turnaround time

Learn more about TRAC or apply for a TRAC number today!

Option 2: Detailed Due Diligence Information, Evidence of an Anti-Bribery Compliance Program and Completion of Anti-Bribery Training

This comprehensive due diligence review and approval process eliminates screening costs for multinationals and provides certified entities with portable compliance reports. TRACE Certified companies are “pre-vetted” partners for multinational companies seeking to do business with suppliers who share their commitment to transparent business practices. Reports contain a wealth of anti-bribery compliance information establishing that an individual or organization has completed internationally accepted due diligence procedures and has been thoroughly vetted, trained and certified by TRACE.

TRACE Certified agents and suppliers enjoy the following benefits:

  • Inclusion on lists provided by TRACE to multinational companies seeking business partners in your region
  • Support with adopting an appropriate code of conduct
  • Free online anti-bribery compliance training for your employees
  • Permission to use the TRACE logo in your marketing materials or on your web site
  • Portability of your certification report to share with all of your business partners
  • Ability to market your commitment to good governance with an internationally accepted compliance credential

Learn more about TRACEcertification or start your TRACEcertification review!

Anti-bribery laws can be complicated and their application difficult to predict.  Due diligence is just one piece of a larger compliance program and provides no guarantees.   Companies must be vigilant to ensure that their employees and third parties do not offer, promise or pay anything of value in order to obtain a business advantage.