Compliance Depot, Vendor, Screening, Compliance, Risk, Business, Credentialing, Due diligence, Verification, Management Tool, Information Services

Why is there a need for Vendor Credentialing?
In today’s high-risk business environment, small mistakes have big consequences. Hiring a company to provide goods and services without first verifying its performance, criminal record and financial standing can result in fraud, unsatisfactory work and lost time and money.

Checking a vendor’s credentials, as well as those of its principals, is an essential business practice before providing a vendor access to your business assets, facilities, and workforce. With ComplianceDepot’s VendorReport clients can learn whether vendors, or potential business partners, have criminal records, financial troubles or be forewarned of business relationships that could create costly conflicts.

ComplianceDepot has developed a state of the art product as a risk management tool for any industry utilizing vendors, contractors, temporary services or other partners as part of their processes.

What You Get
• Control. You tell us what information is critical and the types of background searches you prefer.
• Accountability. Vendors are encouraged to abide by your business practices and ethical standards in order to do business with you or obtain your business.
• Intelligence. You learn the truth about vendors’ and potential business partners’ capabilities, their financial health and reputation.
• Efficiency. Vendors submit information online directly to ComplianceDepot, and you can review ComplianceDepot’s intelligence over a secure Web site.
• Security. ComplianceDepot’s technology team manages the secure web site where information is gathered and stored online.
• Savings. The administrative costs of determining vendors and business partners compliance is no longer a burden for you.

Services offered by ComplianceDepot

Management of Liability Insurance Certificates

Benefits

Decrease Management Costs

Relieve you and your staff of the complicated and time-consuming responsibility of tracking insurance documentation.

ComplianceDepot will perform all the necessary services associated with the retrieval, storage and management of your certificates of insurance.

Reduce Uninsured and Underinsured Exposure

We correspond directly with your vendors and their insurance personnel to make sure they comply with all of your insurance requirements.

ComplianceDepot’s insurance certificate management program monitors liability insurance compliance on a monthly basis.

Verification of carrier rating and producer/agent legitimacy.

Rate vendor based upon industry and liability exposure.

Increase Corporate Control

ComplianceDepot establishes a customized certificate management database for each of its clients, with all work fully documented in the system and available for viewing 24/7 via a secured website. In addition to providing you this complete transaction/audit trail, the advanced tracking system provides a variety of standard reports. Customized reports are also created based on your specific needs and objectives.

Clients can also communicate with our office in regards to any particularities. For example, if a specific insurance requirement is to be waived for a single vendor, we can update our records to indicate this unique arrangement and document the transaction.

Provides compliance with terms and conditions of management contracts.

Government Watch List Search

There are Three Key Laws that are currently affecting the Real Estate Industry and how you do business. Two of the Three Key Laws apply now, to everybody, even to you and your company:

The Patriot Act - concentrates on anti-money laundering by Broadening the Money Laundering Control Act and Expanding the Bank Secrecy Act.

1a. The Money Laundering Control Act - Any person or business that “knows” money or property comes from “some” criminal activity, and engages in a financial transaction with that money or property is a “Money Launderer” who can be fined the greater of $500,000 or two times the value of the property involved and incarcerated for 20 years if the money or property did come from certain types of illegal activity.

* The Building Owners and Managers Association reports that law enforcement authorities believe real estate to be a prime target for money launderers. Consequently, real estate firms should establish Anti-Money Laundering programs as soon as possible.

Executive Order 13224 & the OFAC SDN List - Prohibits all U.S. individuals and businesses from engaging in any form of financial transaction with persons or entities designated as terrorists or their associates.
The Bank Secrecy Act may apply to you, depending on Treasury regulations that have not been issued yet. This Act gives the Treasury Department the authority to issue anti-money laundering regulations to “Financial Institutions”. Types of “financial institutions,” include:

loan and finance companies

investment companies

persons involved in real estate closings and settlements

Additional Information on the Executive Order 13224

In 2001 President Bush issued Executive Order 13224, the Global Terrorist Executive Order for “Blocking Property Transactions with Persons who Commit, Threaten to Commit, or Support Terrorism.” The Order gives the U.S. government additional powers for stopping the flow of international terrorist financing, and empowers the Office of Foreign Assets Control (“OFAC”) of the Department of Treasury, which enforces trade sanctions, as the federal agency responsible for implementing it.

The Order expands the Treasury Department’s power to target the support structure of terrorist organizations by freezing the U.S. assets and blocking the U.S. transactions of terrorists and those that support them.

ALL U.S. businesses and non-profit agencies must address internal operations to ensure compliance with the Order. The Order makes U.S. businesses responsible for monitoring their current interactions with investors, joint ventures, trading partners, vendors and customers. OFAC publishes and frequently updates a list of specially designated nationals that it is illegal to do business with.

OFAC SDN List

A list of countries, persons, groups and businesses considered to be terrorists (or their associates) or narcotics traffickers whose property and interests in property is “blocked” and may not be “transferred, paid, exported, withdrawn or otherwise dealt in”.

“Property” and “Property Interest” means money, checks, drafts, debts, notes, securities, mortgages, pledges, liens, security interests, leases, rents, real estate, insurance policies, annuities, contracts and “any other property, real or personal, tangible or intangible, or interests therein”.

“Blocked” means that the property may not be transferred, must be reported to Treasury and, if funds, must be seized and placed in an interest bearing account.

“Transfer” means any transaction whose purpose is to create, convey or alter, directly or indirectly, any property or property interest. This includes making, executing, delivering or conveying any assignment, check, deed, lease, mortgage, contract, gift, sale, making any payment, giving any credit, or providing any service.

This applies to everyone, now. You are responsible for not doing business with any person or business on the OFAC List.

In short, federal law prohibits any direct or indirect business, transaction, service or credit to or with anyone on the SDN List. Non-compliance is punishable by law.

Benefits of Government Watch List Search

Compliance with Federal Laws

The Patriot Act

The Money Laundering Control Act

Executive Order 13224

OFAC List Checking as a routine part of your Compliance Program.

Establishment of an Anti-Money Laundering Program.

Development of Internal Policy, Procedures, Controls and Corporate Governance.

Provides compliance with terms and conditions of management contracts.

National Background & Sex Offender Search

ComplianceDepot’s National Criminal & Sex Offender Search provides a comprehensive search of multiple criminal record sources, including state and county criminal record repositories, prison parole and release files and records from other state agencies and includes all 45 state sex offender files.

ComplianceDepot will also access the federal crime repository to identify criminal convictions on federal charges including, but not limited to, securities and tax law violations, immigration, weapons, interstate drug crimes and civil rights violations, as well as the Government Watch List (i.e. FBI Most Wanted and Terrorist Watch List databases).

This national criminal search includes access to more than 150 million criminal records across the United States. All information is FCRA compliant.

Benefits

ComplianceDepot provides a national background check including criminal and sex offender records in 45 states plus OFAC and FBI databases.

Assist client in compliance with Federal Laws.

Protects company / owner from risk of doing business with convicted felons.

ComplianceDepot can provide background checks for all vendors that come into contact with your property, customer/consumer, or employees to reduce the risk of liability associated with crimes while working for you.

Due Diligence Vendor Check Includes:

Corporate Status Verification

Business Financial / Credit Information (D&B)

Bankruptcy, Lien, & Judgment Check

Insurance Verification / Certificate Management

Management of W9 Documents

Business License Verification

Government Watch List Verification / OFAC

Conflicts of Interest Verification

Vendor Principal & Associate Qualification Service Includes:

Social Security Number Verification

National Background History Check

Credit History Check

Professional or Trade License Verification

Conflict of Interest Verification

Government Watch List Verification / OFAC

• Professional License Verification
Professional license record search, verifies occupational license types, the name and address of the licensee, license number, date of original issuance and date of expiration. Status of license is also provided and any pending or past disciplinary actions taken.

• Government Watch List Verification
This search will verify that potential vendor employees have not been placed on the Government Watch List (i.e. FBI Most Wanted and Terrorist Watch List databases).

• Credit History
Receive instant results. Provides Credit History through the National Credit Bureau Network. Information obtained can include: Name(s) on Account, Date Opened, Status Date, High Credit, Amount Owing, Rating & History, Late Payments, Public Record Amounts.

• Dun & Bradstreet Business Report
Retrieve business history, credit score, operations, payment records, financial and banking information, legal actions, liens and bankruptcies, UCC filings and other information from over 9 million businesses on record.

• Bankruptcy, Lien and Judgments Search
Identifies critical financial information on businesses including up to 10 years history of bankruptcy filings, a 7 year history of federal, state and county tax liens, as well as judgments from small claims, municipal and superior courts.

• Corporate Status
Verifies the corporate status of companies, i.e. operating licenses, etc.

Key “Client” Benefits of our Services

ComplianceDepot’s program will help you minimize the cost and time associated with verifying and credentialing supplier information while improving security, safety and compliance.

ComplianceDepot has created an effective and reliable system of vendor accountability: vendors are encouraged to agree to abide by your business practices and ethical standards to begin or continue service with your organization.

Development of a process for obtaining critical information about your vendor’s or potential business partners’ capabilities, business history, financial stability, insurance compliance and criminal background.

Critical vendor information is maintained and updated on the ComplianceDepot secure website, thus enhancing your ability to track important changes to supplier information using fewer resources.

This valuable vendor information will also include a history of Certificates of Insurance for auditing purposes. Our online storage of these documents will greatly reduce the time it takes for staff to collect them for auditors.

Maximize the efficiency of management personnel for evaluating suppliers. ComplianceDepot’s VendorReport system streamlines “paper intensive” processes.

ComplianceDepot’s insurance certificate management program monitors liability insurance compliance on a monthly basis.

Provides OFAC list checking as a routine part of your compliance program.

Assist customer in implementing an anti-money laundering program.

Assist in development of internal policies, procedures and controls. Including providing an on-going employee training program.

Our system can help you track and report when you do business with minority owned businesses. Ideal solution for affordable, military and any government type housing.

Key “Vendor” Benefits of our Services

Provides a level playing field for all vendors in that each will be required to furnish a certificate of insurance, proper licenses (when required) and criminal backgrounds on those providing services on a property. Vendors will no longer have to bid against other vendors that do not have insurance, licenses or criminal background checks in place.

ComplianceDepot will manage the vendor’s insurance certificate process which will include notices, prior to expiration, to the vendor and insurance agents so that the vendor will not have a lapse in insurance coverage.

The vendor that is registered with ComplianceDepot will have increased exposure to management companies searching for preferred compliant vendors.

Vendors will have the ability to screen their employees and subcontractors for criminal information and that information will be housed on the ComplianceDepot website. This service provides Vendor companies with an affordable National criminal and OFAC search.

Location Manager’s will have access to the ComplianceDepot website that maintains a database of background check information on participating vendor members and determine if the vendor’s employees/subcontractors have passed a background check.

The ComplianceDepot website provides vendors access 24/7 to the status of the screening process, as well as information needed to meet the screening criteria of our clients.





Why is there a need for Vendor Credentialing? Services offered by ComplianceDepot: • Management of Liability Insurance Certificates • Government Watch List Search • National Background & Sex Offender Search • Due Diligence Vendor Check • Vendor Principal & Associate Qualification Professional License Verification Credit History Dun & Bradstreet Business Report Bankruptcy, Lien and Judgments Search Corporate Status Key "Client" Benefits of our Services Key "Vendor" Benefits of our Services
		Why is there a need for Vendor Credentialing? In today’s high-risk business environment, small mistakes have big consequences. Hiring a company to provide goods and services without first verifying its performance, criminal record and financial standing can result in fraud, unsatisfactory work and lost time and money. Checking a vendor’s credentials, as well as those of its principals, is an essential business practice before providing a vendor access to your business assets, facilities, and workforce. With ComplianceDepot’s VendorReport clients can learn whether vendors, or potential business partners, have criminal records, financial troubles or be forewarned of business relationships that could create costly conflicts. ComplianceDepot has developed a state of the art product as a risk management tool for any industry utilizing vendors, contractors, temporary services or other partners as part of their processes. What You Get • Control. You tell us what information is critical and the types of background searches you prefer. • Accountability. Vendors are encouraged to abide by your business practices and ethical standards in order to do business with you or obtain your business. • Intelligence. You learn the truth about vendors’ and potential business partners’ capabilities, their financial health and reputation. • Efficiency. Vendors submit information online directly to ComplianceDepot, and you can review ComplianceDepot’s intelligence over a secure Web site. • Security. ComplianceDepot’s technology team manages the secure web site where information is gathered and stored online. • Savings. The administrative costs of determining vendors and business partners compliance is no longer a burden for you. Services offered by ComplianceDepot Management of Liability Insurance Certificates *Benefits* Decrease Management Costs Relieve you and your staff of the complicated and time-consuming responsibility of tracking insurance documentation. ComplianceDepot will perform all the necessary services associated with the retrieval, storage and management of your certificates of insurance. Reduce Uninsured and Underinsured Exposure We correspond directly with your vendors and their insurance personnel to make sure they comply with all of your insurance requirements. ComplianceDepot’s insurance certificate management program monitors liability insurance compliance on a monthly basis. Verification of carrier rating and producer/agent legitimacy. Rate vendor based upon industry and liability exposure. Increase Corporate Control ComplianceDepot establishes a customized certificate management database for each of its clients, with all work fully documented in the system and available for viewing 24/7 via a secured website. In addition to providing you this complete transaction/audit trail, the advanced tracking system provides a variety of standard reports. Customized reports are also created based on your specific needs and objectives. Clients can also communicate with our office in regards to any particularities. For example, if a specific insurance requirement is to be waived for a single vendor, we can update our records to indicate this unique arrangement and document the transaction. Provides compliance with terms and conditions of management contracts. Government Watch List Search There are Three Key Laws that are currently affecting the Real Estate Industry and how you do business. Two of the Three Key Laws apply now, to everybody, even to you and your company: *The Patriot Act* - concentrates on anti-money laundering by Broadening the Money Laundering Control Act and Expanding the Bank Secrecy Act. 1a. The Money Laundering Control Act - Any person or business that “knows” money or property comes from “some” criminal activity, and engages in a financial transaction with that money or property is a “Money Launderer” who can be fined the greater of $500,000 or two times the value of the property involved and incarcerated for 20 years if the money or property did come from certain types of illegal activity. * The Building Owners and Managers Association reports that law enforcement authorities believe real estate to be a prime target for money launderers. Consequently, real estate firms should establish Anti-Money Laundering programs as soon as possible. *Executive Order 13224 & the OFAC SDN List* - Prohibits all U.S. individuals and businesses from engaging in any form of financial transaction with persons or entities designated as terrorists or their associates. *The Bank Secrecy Act* may apply to you, depending on Treasury regulations that have not been issued yet. This Act gives the Treasury Department the authority to issue anti-money laundering regulations to “Financial Institutions”. Types of “financial institutions,” include: loan and finance companies investment companies persons involved in real estate closings and settlements Additional Information on the Executive Order 13224 In 2001 President Bush issued Executive Order 13224, the Global Terrorist Executive Order for “Blocking Property Transactions with Persons who Commit, Threaten to Commit, or Support Terrorism.” The Order gives the U.S. government additional powers for stopping the flow of international terrorist financing, and empowers the Office of Foreign Assets Control (“OFAC”) of the Department of Treasury, which enforces trade sanctions, as the federal agency responsible for implementing it. The Order expands the Treasury Department’s power to target the support structure of terrorist organizations by freezing the U.S. assets and blocking the U.S. transactions of terrorists and those that support them. ALL U.S. businesses and non-profit agencies must address internal operations to ensure compliance with the Order. The Order makes U.S. businesses responsible for monitoring their current interactions with investors, joint ventures, trading partners, vendors and customers. OFAC publishes and frequently updates a list of specially designated nationals that it is illegal to do business with. OFAC SDN List A list of countries, persons, groups and businesses considered to be terrorists (or their associates) or narcotics traffickers whose property and interests in property is “blocked” and may not be “transferred, paid, exported, withdrawn or otherwise dealt in”. “Property” and “Property Interest” means money, checks, drafts, debts, notes, securities, mortgages, pledges, liens, security interests, leases, rents, real estate, insurance policies, annuities, contracts and “any other property, real or personal, tangible or intangible, or interests therein”. “Blocked” means that the property may not be transferred, must be reported to Treasury and, if funds, must be seized and placed in an interest bearing account. “Transfer” means any transaction whose purpose is to create, convey or alter, directly or indirectly, any property or property interest. This includes making, executing, delivering or conveying any assignment, check, deed, lease, mortgage, contract, gift, sale, making any payment, giving any credit, or providing any service. This applies to everyone, now. You are responsible for not doing business with any person or business on the OFAC List. In short, federal law prohibits any direct or indirect business, transaction, service or credit to or with anyone on the SDN List. Non-compliance is punishable by law. Benefits of Government Watch List Search Compliance with Federal Laws The Patriot Act The Money Laundering Control Act Executive Order 13224 OFAC List Checking as a routine part of your Compliance Program. Establishment of an Anti-Money Laundering Program. Development of Internal Policy, Procedures, Controls and Corporate Governance. Provides compliance with terms and conditions of management contracts. National Background & Sex Offender Search ComplianceDepot’s National Criminal & Sex Offender Search provides a comprehensive search of multiple criminal record sources, including state and county criminal record repositories, prison parole and release files and records from other state agencies and includes all 45 state sex offender files. ComplianceDepot will also access the federal crime repository to identify criminal convictions on federal charges including, but not limited to, securities and tax law violations, immigration, weapons, interstate drug crimes and civil rights violations, as well as the Government Watch List (i.e. FBI Most Wanted and Terrorist Watch List databases). This national criminal search includes access to more than 150 million criminal records across the United States. All information is FCRA compliant. Benefits ComplianceDepot provides a national background check including criminal and sex offender records in 45 states plus OFAC and FBI databases. Assist client in compliance with Federal Laws. Protects company / owner from risk of doing business with convicted felons. ComplianceDepot can provide background checks for all vendors that come into contact with your property, customer/consumer, or employees to reduce the risk of liability associated with crimes while working for you. Due Diligence Vendor Check Includes: Corporate Status Verification Business Financial / Credit Information (D&B) Bankruptcy, Lien, & Judgment Check Insurance Verification / Certificate Management Management of W9 Documents Business License Verification Government Watch List Verification / OFAC Conflicts of Interest Verification Vendor Principal & Associate Qualification Service Includes: Social Security Number Verification National Background History Check Credit History Check Professional or Trade License Verification Conflict of Interest Verification Government Watch List Verification / OFAC • Professional License Verification Professional license record search, verifies occupational license types, the name and address of the licensee, license number, date of original issuance and date of expiration. Status of license is also provided and any pending or past disciplinary actions taken. • Government Watch List Verification This search will verify that potential vendor employees have not been placed on the Government Watch List (i.e. FBI Most Wanted and Terrorist Watch List databases). • Credit History Receive instant results. Provides Credit History through the National Credit Bureau Network. Information obtained can include: Name(s) on Account, Date Opened, Status Date, High Credit, Amount Owing, Rating & History, Late Payments, Public Record Amounts. • Dun & Bradstreet Business Report Retrieve business history, credit score, operations, payment records, financial and banking information, legal actions, liens and bankruptcies, UCC filings and other information from over 9 million businesses on record. • Bankruptcy, Lien and Judgments Search Identifies critical financial information on businesses including up to 10 years history of bankruptcy filings, a 7 year history of federal, state and county tax liens, as well as judgments from small claims, municipal and superior courts. • Corporate Status Verifies the corporate status of companies, i.e. operating licenses, etc. Key “Client” Benefits of our Services ComplianceDepot’s program will help you minimize the cost and time associated with verifying and credentialing supplier information while improving security, safety and compliance. ComplianceDepot has created an effective and reliable system of vendor accountability: vendors are encouraged to agree to abide by your business practices and ethical standards to begin or continue service with your organization. Development of a process for obtaining critical information about your vendor’s or potential business partners’ capabilities, business history, financial stability, insurance compliance and criminal background. Critical vendor information is maintained and updated on the ComplianceDepot secure website, thus enhancing your ability to track important changes to supplier information using fewer resources. This valuable vendor information will also include a history of Certificates of Insurance for auditing purposes. Our online storage of these documents will greatly reduce the time it takes for staff to collect them for auditors. Maximize the efficiency of management personnel for evaluating suppliers. ComplianceDepot’s VendorReport system streamlines “paper intensive” processes. ComplianceDepot’s insurance certificate management program monitors liability insurance compliance on a monthly basis. Provides OFAC list checking as a routine part of your compliance program. Assist customer in implementing an anti-money laundering program. Assist in development of internal policies, procedures and controls. Including providing an on-going employee training program. Our system can help you track and report when you do business with minority owned businesses. Ideal solution for affordable, military and any government type housing. Key “Vendor” Benefits of our Services Provides a level playing field for all vendors in that each will be required to furnish a certificate of insurance, proper licenses (when required) and criminal backgrounds on those providing services on a property. Vendors will no longer have to bid against other vendors that do not have insurance, licenses or criminal background checks in place. ComplianceDepot will manage the vendor’s insurance certificate process which will include notices, prior to expiration, to the vendor and insurance agents so that the vendor will not have a lapse in insurance coverage. The vendor that is registered with ComplianceDepot will have increased exposure to management companies searching for preferred compliant vendors. Vendors will have the ability to screen their employees and subcontractors for criminal information and that information will be housed on the ComplianceDepot website. This service provides Vendor companies with an affordable National criminal and OFAC search. Location Manager’s will have access to the ComplianceDepot website that maintains a database of background check information on participating vendor members and determine if the vendor’s employees/subcontractors have passed a background check. The ComplianceDepot website provides vendors access 24/7 to the status of the screening process, as well as information needed to meet the screening criteria of our clients.

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