Schulz Trade Law PLLC Integrates Sayari for Enhanced Due Diligence
Background
Schulz Trade Law PLLC (STL), a leading international trade law firm, has incorporated Sayari, a global corporate intelligence platform, into its due diligence and risk assessments for clients engaged in international trade.
Challenge
Clients in need of trade counsel must often navigate complex regulatory landscapes, including compliance with trade sanctions, embargoes, forced labor, and export control laws. STL sought out a reliable method of pinpointing potential risks associated with multi-tiered transactions and third-party relationships in international transactions.
Solution
Sayari's comprehensive risk investigation and analysis platform, Sayari Graph, provided Schulz Trade Law PLLC with the necessary tools to conduct efficient yet detailed reviews of transaction histories and corporate affiliations at deeper levels. This platform allowed the firm to advise clients more effectively on complex global compliance matters.
Below are just a few hypothetical scenarios derived from client experiences. These are only hypotheticals and are not intended to represent or refer to any actual clients or client matters.
Examples
Hypothetical Scenario 1
Comprehensive Review for a U.S. Company
A Latvian bank notified Texas-based Company A that it had identified potential risks associated with the various EU and U.S. sanctions on Russia and Russian entities. Using Sayari, STL immediately accessed the complete history of the Latvian subsidiary’s transactions and its affiliations. Results showed the exact year the Latvian subsidiary had begun selling to Russia. STL also used the historical data from Sayari to confirm what was shipped and when. STL’s attorneys and analysts quickly verified that the applicable tariff code required a license for export to Russia. Further review of additional subsidiaries in Sayari revealed potential dealings with a U.S.-embargoed country, potential sales to denied parties, and potential sales by third parties to unauthorized end-users. Having targeted the problem, scope, and root causes, this company filed appropriate disclosures in a timely manner and implemented corrective actions to prevent any future errors from occurring.
Hypothetical Scenario 2
CTPAT Requirements Satisfied
A CTPAT-certified widget importer in California needed a cursory review to assess the risk of forced labor in its complex supply chain. With Sayari results, the company was able to target which suppliers were at risk of having shipments flagged for Customs detention. Using Sayari, STL was able to help the company adhere to the latest CTPAT requirements and save money by eliminating the risk of UFLPA detentions.
Schulz Trade Law PLLC's adoption of Sayari has significantly enhanced its ability to conduct rapid and comprehensive due diligence for its clients.
Hypothetical Scenario 3
Due Diligence for Scrap Reseller
A newly formed company had an opportunity to sell and resell scrap auto parts. STL used Sayari for due diligence on third parties involved in proposed transactions and found one potential unauthorized end-user: a branch of a foreign government. STL’s due diligence included an investigation of the buyer’s ownership, confirmation of its local registration, and the resolution of two other export red flags. With the Sayari information and additional due diligence completed to resolve any concerns, the company was able to make a sale that otherwise would have been too risky.
Hypothetical Scenario 4
Manufacturer's Distribution Chain Analysis
An innovative research and design lab in Seattle created a new product for use in cleaning manufacturing equipment. The company recently learned one of its distributors might be reselling to a Chinese entity that was listed as an OFAC SDN. Through Sayari, STL determined the distributor was reselling to a subsidiary of the OFAC SDN and that ownership was less than 50%, which put the subsidiary below the ownership threshold necessary to qualify as a denied party. The U.S. company was able to continue profitable sales and document its due diligence thoroughly and accurately for export compliance.
Conclusion
Schulz Trade Law PLLC's adoption of Sayari has significantly enhanced its ability to conduct rapid and comprehensive due diligence for its clients. Complementary to STL’s other screening and trade software tools, the platform provided a highly detailed data solution for identifying and mitigating potential trade compliance risks. With better visibility into supply chains through Sayari, the firm's clients can better ensure compliance and operational success.
About Sayari
Sayari is the counterparty and supply chain risk intelligence provider trusted by government agencies, multinational corporations, and financial institutions. Its intuitive network analysis platform surfaces hidden risk through integrated corporate ownership, supply chain, trade transaction and risk intelligence data from over 250 jurisdictions.
Sayari is headquartered in Washington, D.C., and its solutions are used by thousands of frontline analysts in over 35 countries.
About Schulz Trade Law PLLC
Schulz Trade Law PLLC is a woman-owned trade law firm that specializes in guiding corporate clients through the regulatory complexities of international trade. The firm's highly experienced trade attorneys, non-attorney trade analysts, and advisors offer robust support in export and import compliance and enforcement matters. STL serves a wide variety of industries such as aerospace, oil and gas, software and technology, manufacturing, transportation, food and beverage, and healthcare. STL is well known for creating forward-thinking strategies that are legally compliant. Among other areas, their decades-long experience involves preparing voluntary self-disclosures, due diligence for mergers and acquisitions, ITAR licensing and agreements, export license submissions, trade compliance audits, responding to inquiries and directed disclosures, and implementing safeguards to ensure clients satisfy the US government’s human rights requirements.
Surface the Insights that Protect Global Business
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