TRACE Offers Complimentary Due Diligence Review To Port Agents In Partnership With DA-Desk To Increase Transparency In The Shipping And Maritime Industries

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Jun 21, 2016, 07:00 ET

ANNAPOLIS, Md., June 21, 2016 /PRNewswire/ -- TRACE International, the world's leading anti-bribery standard setting organization, today announced the launch of a program as part of its Certify the World campaign to support commercial transparency in the shipping and maritime industries. In collaboration with its partner, DA-Desk, the world's largest independent provider of port cost management services, TRACE will provide small and medium-sized enterprises (SMEs) with TRACEcertification, an internationally recognized due diligence review and compliance credential, at no cost for one year. Last year, TRACE launched its Certify the World campaign in Ghana in partnership with PYXEREA global, providing TRACE certified due diligence and anti-bribery training to over 100 local companies.

Companies that successfully complete TRACE certified due diligence will serve as valued business partners for ship owners, charterers, and operators seeking to do business with shipping agents who share their commitment to commercial transparency.

"While the small bribes routinely solicited in the shipping supply chain may appear harmless, they add up to millions of dollars over time. This program increases transparency in the supply chain and allows shipping entities to keep compliance costs low while meeting a high international standard and gaining a competitive advantage," said TRACE President Alexandra Wrage.

"Companies relying on the shipping industry to carry goods are becoming more aware of the threat of corruption within their transport chains," said Felix Antero, DA-Desk General Counsel & Chief Compliance Officer. "The opportunity being offered by TRACE to our customers' global network of SME port agents allows these agents to demonstrate a firm commitment to anti-corruption."

Entities participating in this program will be invited to attend an anti-bribery training workshop on September 19, 2016, hosted by TRACE International and DA-Desk in Dubai. Completion of anti-bribery training is a requirement of TRACE certified due diligence.

The global network of TRACE partnerships enables TRACE to better support small and medium-sized enterprises and address the heightened need for anti-bribery compliance services worldwide.

About TRACE
TRACE International and TRACE Incorporated are two distinct entities with a common mission to advance commercial transparency worldwide by supporting the compliance efforts of multinational companies and their third party intermediaries. TRACE International is a non-profit business association that pools resources to provide members with anti-bribery compliance support while TRACE Incorporated offers both members and non-members customizable risk-based due diligence, anti-bribery training and advisory services. Working alongside one another, TRACE International and TRACE Incorporated offer an end-to-end, cost-effective and innovative solution for anti-bribery and third party compliance. For more information, visit www.TRACEinternational.org.

About DA-Desk
Since its founding in 2001, DA-Desk has been increasing transparency in the disbursement account process, creating operational efficiency, and improving the price-value relationship for both principals of shipping companies and port agents. DA-Desk has helped customers transform port cost management practices and establish new standards for efficiency and oversight. Fully independent, DA-Desk has no financial connection to port suppliers, port agents or shipping companies. As a specialist organization, DA-Desk is focused exclusively on the DA process, from port agent nomination to voyage closing. Customers are free to focus on other important tasks because DA-Desk has skilled and knowledgeable workers to manage every painstaking detail. Since DA-Desk processes about 150,000 port calls per year, it is able to improve the compliance profile of its customers while reducing unit costs for them. For more information, visit www.da-desk.com or www.da-desk.com/why

SOURCE TRACE