Risk-Based Due Diligence
Risk-Based Due Diligence
Our multilingual in-house due diligence team has conducted over 600,000 reviews worldwide, and our analysts are often recognized for their unparalleled thoroughness and responsiveness. Through our proven methodology for conducting due diligence, we are able to deliver more accurate and comprehensive reports in a short timeframe.
Our multilingual in-house due diligence team has conducted over 600,000 reviews worldwide, and our analysts are often recognized for their unparalleled thoroughness and responsiveness. Through our proven methodology for conducting due diligence, we are able to deliver more accurate and comprehensive reports in a short timeframe.
TRAC
BASELINE DUE DILIGENCE PROFILE
TRAC is an online platform that enables the rapid exchange of compliance information and satisfies international baseline due diligence requirements for third parties. Approved applicants are assigned a unique ID number within 48 hours and may provide global business partners with complimentary access to their due diligence profile. Any company or individual may apply for a TRAC.
Companies or individuals that have completed or renewed their TRAC profile within the last year are included in the TRAC Register, a searchable database of global suppliers that have completed a baseline due diligence review.
WHAT DOES IT MEAN TO HAVE A TRAC?
Companies or individuals who are issued a TRAC number have completed a baseline due diligence review, including an abbreviated compliance questionnaire. Any red flags uncovered during the course of the review are included in the TRAC holder’s online profile.
WHAT DOES TRAC DO?
- Verifies name and address
- Collects ownership information
- Details associations with other entities at same address, authorized representative or with same ownership
- Continuously screens all names against watchlists, international sanctions, Politically Exposed Persons (PEP) and denied parties databases
- Includes responses to compliance questions addressing bribery, human trafficking, conflict minerals, child labor, felonies and criminal acts and bankruptcy
- Covers ethics and social responsibility and collects compliance certifications
- Alerts users by email when there is a change in compliance status
- Allows users to efficiently exchange and store compliance information
- Includes follow-up with the TRAC applicant in order to remove false positives and/or obtain red flag clarifications during the review process
- Streamlines the onboarding process
- Collects information from TRAC applicants in up to 10 languages through an easily shared unique link*
*Languages available include Chinese, English, French, German, Italian, Japanese, Korean, Portuguese, Russian and Spanish.
HOW TO OBTAIN A TRAC NUMBER
To get started, access the Tcompliance Third Party Management System (TPMS), log in or create an account and follow the instructions.
Utilizing TRAC for supply chain due diligence
Identify and manage supply chain risks by inviting your global third parties to obtain a TRAC profile. Quickly initiate the process with a customizable link that can be sent to your supply chain vendors, easily access their profiles and receive alerts when changes occur in compliance status or information.