Expodite screens your buyers and the other parties on your orders against the official sanctions lists: the United States OFAC lists, the European Union's financial sanctions list, the UN Security Council list and the UK Sanctions List. The lists are refreshed daily.
How screening works
- Screening is automatic: when a buyer, consignee, notify party, supplier or forwarder is added or its name or country changes, when an LC's banks are recorded, when a vessel is booked, and again whenever the lists change.
- Names are matched approximately, including Arabic names written in Latin letters, so small spelling differences are caught.
- No match: the party is cleared automatically, and the result is kept as evidence with the list versions used.
- A possible match: a review task is created and the people responsible are notified straight away.
Reviewing a possible match
Compare the party with the listed entry: full name, country, addresses, identifiers. Record your decision (a true match or a false positive) with the evidence you relied on. A true match must not be traded with; talk to your legal adviser.