Universal teams with TRACE to reduce clients' compliance risk

Universal Weather and Aviation, Inc. (exhibit #363) announced at EBACE2013 that it is now working with TRACE, the global leader in innovative anti-bribery due diligence and compliance solutions. Working with TRACE is part of ongoing efforts by Universal® to help further reduce its clients’ risk of a potential anti-bribery and compliance violation.

“With increasing enforcement of anti-bribery and corruption violations on a global basis and associated multi-million dollar fines being assessed, our clients want assurance that the companies and third-party suppliers they work with comply with all applicable compliance laws and regulations,” said Bobby Butler, Senior Vice President and Chief Compliance Officer, Universal®. “TRACE provides a best-in-class solution via its TRAC (TRACE Registered Access Code) platform. TRAC is already successfully used in other industries and we will use it to help reduce potential risk and exposure for our clients.”

TRAC is TRACE’s global online platform that captures, assesses and shares baseline due diligence information on organizations and individuals and issues universal ID numbers to approved applicants. Universal® and all of its Universal Aviationsm worldwide ground support locations have registered with TRAC. TRAC provides transparency and efficiency between companies and their intermediaries and continually runs suppliers’ names against international watch lists.

Pete Lewis, Senior Vice President, Global Partnership Management said that his team is now working to have its thousands of global suppliers register with TRAC.

“TRAC further enhances the due diligence and vetting our Global Partnership Management department already does to ensure our suppliers meet critical standards for service, quality and compliance,” said Lewis. “We’re working to make it easier for our clients by reducing the risk associated with an increasing number of international business partners and business transactions across borders. An additional benefit to TRAC is that is serves as a single baseline of due diligence, which reduces the complexity associated with duplicative requests of compliance proof from multiple partners. We encourage the entire business aviation industry to adopt TRAC to provide greater transparency in the fight against bribery, corruption and other compliance violations.”

For more information on TRAC, please visit Universal exhibit #363 or https://tracnumber.com.