The California Transparency in Supply Chains Act is a law enacted in 2012 that requires companies to disclose their efforts to ensure that the goods they sell are not produced by workers who are forced into servitude or labor. The law applies to any company that does business in the U.S. state of California, with at least $100 million in global revenue, and that makes or sells goods in California.
A company's public disclosure must be conspicuous and include information on how it:
Prevalent helps organizations apply a rigorous level of due diligence to their suppliers by determining if a public statement exists, and by validating policies and processes through modern slavery risk assessments and continuous external monitoring of their real-world practices. Armed with these insights, organizations improve their visibility into their supply chain partners' labor practices, reducing the risk of reputational damage.
Publish an annual statement detailing the steps taken to ensure that human trafficking and slavery is not taking place in the business or supply chain
Improve due diligence on suppliers to ensure they are adhering to the law
Satisfying Third-Party Risk Management Compliance Requirements
Discover the key third-party risk management requirements in common regulatory and security frameworks, and learn how Prevalent maps to specific mandates so you can achieve compliance while mitigating vendor risk.
Rapidly pre-screen vendors using a library of continuously updated risk profiles based on inherent/residual risk, assessment results and real-time reputational monitoring.
Tap into 550,000+ sources of vendor intelligence to build a comprehensive supplier profile that includes industry and business insights and maps potentially risky 4th-party relationships.
Use a simple assessment with clear scoring to track and quantify inherent risks for all onboarded suppliers.
Leverage Prevalent's built-in Modern Slavery assessment to determine adherence to policies. Review and approve assessment responses to automatically register risks or reject responses and request additional input.
Normalize, correlate and analyze assessment results and continuous monitoring intelligence for unified reporting and remediation.
Take actionable steps to reduce modern slavery exposure with built-in remediation recommendations and guidance.
Store and distribute Modern Slavery policy documents for dialog and attestation.
Visualize and address compliance requirements by automatically mapping assessment results to Modern Slavery requirements.
Identify relationships between your organization and third, fourth and Nth parties to discover dependencies and asses your exposure.
Gain continuous insights into potential supplier performance problems before they impact your business.