Posted in Operations and Supply Chain Terms, Total Reads: 199
Definition: Denied Party List
Denied Party List is a list containing the names of all the parties who have been denied any sort of export privileges which are provided by the Government. Any dealings with any of the parties mentioned on this list which would violate the terms of its initial order in which denial was mentioned are completely prohibited.
This list generally contains the names of all the parties which have been found engaging in illegal trade. There are certain rules and regulations set by the Government with respect to trading and those rules are applicable to all the parties who are trading within this territorial region. All parties, without any exceptions are supposed to abide by these rules and regulations.
Failure to comply with any of the rules as mentioned by the Government results in inclusion in the Denied Party List. This serves as a Trade barrier as this party is not able to trade with anyone due to its inclusion in the DPL.All parties should comply with all the rules, as set by the Government and avoid its inclusion in the Denied Party List.
This list would contain the names of all the parties who have been suspected to or found guilty of illegal trade. This enlistment would ensure that no one would engage in any trade whatsoever with these parties thus boycotting them on all fronts.