TRACE International and DA-Desk FZ-LLC today announced a partnership to create greater transparency in the shipping industry. The first-of-its-kind shipping industry partnership pairs TRACE, the worldwide leader in setting the standard for global compliance due diligence, with DA-Desk, the largest independent provider of port cost management services. The alliance enables port agents and suppliers registered with DA-Desk to receive preferential pricing for TRACEcertification and promote their commitment to compliance.
TRACEcertification is an internationally accepted due diligence review, analysis and approval process that allows entities to own their verified compliance information and share it with all global business partners. TRACE-certified companies are “pre-vetted” partners for multinational companies seeking to do business with shipping agents who share their commitment to compliance. DA-Desk recently was awarded TRACEcertification.
“The shipping industry is undergoing greater scrutiny,” said Alexandra Wrage, president of TRACE. “This alliance will encourage agents of DA-Desk’s global business partners to undergo the TRACEcertification process, providing recognition for their commitment to increased transparency, anti-bribery training for all their employees, and visibility to multinational companies seeking potential new business partners.”
“As an industry partner of TRACE, DA-Desk is working to help bring down the cost of compliance, making it easier for agents to afford the due diligence process,” said Hans-Christian Mordhorst, Commercial Director, DA-Desk. “Additionally, TRACEcertified companies can promote their commitment to the highest standards of transparency in our database of over 10,000 agents and suppliers.”
Companies across industries now accept TRACEcertification in lieu of their own due diligence procedure and have expressed support of the partnership between TRACE and DA-Desk.
“We are pleased to accept TRACEcertification in lieu of our own due diligence review process because it satisfies global due diligence requirements as well as our own standards and procedures,” said Travis Winslow, Carnival Corporation’s Senior Director for Ethics & Compliance. “The partnership between TRACE and DA-Desk is a major step forward in establishing a global standard for third party due diligence and bringing increased transparency to the shipping industry.”
With the DA-Desk partnership, the shipping industry joins others in accepting TRACEcertification as their own standard.
TRACE International is a non-profit business organization that pools resources to provide members with anti-bribery compliance support. TRACE members include more than 30% of the Fortune 500, as well as thousands of small and medium-sized enterprises throughout the world. TRACE International is the world’s leading anti-bribery standards-setting organization and works with TRACE Incorporate to offer non-members practical and cost-effective anti-bribery and third party compliance solutions.
DA-Desk was founded in 2001 on the principle that an independent, distinct Disbursement Account service—not owned by port agencies or shipping companies—could provide an objective, automated DA process that would benefit both principals and agents. Today, the privately owned DA-Desk, headquartered in Dubai, UAE, is the world’s largest independent port cost management service provider. The company’s services and tools deliver operational efficiencies, enhanced security and cost savings while mitigating regulatory compliance risks for more than 190 customers across the globe making over 120,000 port calls annually.