Maritime technology company Pole Star has announced the launch of a new extension to PurpleTRAC; Bill of Lading Verification (BLV).
Pole Star, through its web-based PurpleTRAC regulatory technology application, enables institutions with sanctions and risk management exposures in maritime trade to screen and track vessels and their associated ownership and management’s regulatory status, by entering just the vessel name or IMO number.
“The release of our new BLV module will allow PurpleTRAC customers to significantly extend their sanctions risk and compliance investigations,” said Pole Star in its announcement.
By simply entering the bill of lading number of a container shipment, PurpleTRAC will confirm whether this is a recognised asset within the database of carriers currently supported and then provide a list of all the vessels involved in the delivery of this BoL, all ports visited, and all carriers involved in the transaction.
At this point, the relevant vessels will pass through PurpleTRAC’s unique vessel screening capability to ensure they meet their specific sanctions compliance requirements, explains Pole Star.
All BoL searches will be recorded and saved to allow the users to trace and prove their due diligence steps, according to the company.
