Screening Restricted Parties

Screening is a process whereby each individual or company (business partners) with whom you are planning to do business is screened against the restricted party list (denied, debarred and/or restricted parties) to check whether you can conduct business with them. Standard screening is performed based on first name, last name or company name. Additional optional fields like alternate name, address, postal code, city, province, and country can be used to determine the potential matches during screening. Oracle Global Trade Management (GTM) supports transactional and non-transactional screening of parties.

Government agencies throughout the world and other regional, unilateral, and multilateral agencies enforce regulations which restrict businesses and people from conducting trade with specific foreign entities (individuals, companies, countries). These entities are referred to as Denied, Debarred, and/or Restricted Parties. Typically, the restricted parties are mainly countries subject to embargoes, and persons, businesses, and organizations subject to financial sanctions. Periodically, these agencies publish lists of entities that are marked as restricted parties.

GTM provides the functionality to download this list from third party content providers and perform screening of involved parties against the list of ‘Restricted’ parties identified by the government.

When you first download restricted parties into GTM from a content provider, you can compare all your parties in GTM to the entire restricted party list. As a content provider updates the restricted party lists, based on updates to the regulations, content providers will only send in the updates to the existing lists in GTM, also known as a delta list. At this time, GTM will then perform delta screening where all parties in GTM are screened against the delta list.