A vdr system is similar to the black box of an airplane, storing various kinds of data that can be analysed and retrieved in the event of an incident at sea. The system is comprised of a device which collects information from sensors mounted onboard and a capsule that stores the data. It is designed to withstand fire, deepsea pressure, shock and penetration. It also has an integrated communication unit that connects to the ship’s emergency position reporting system (EPIRB) and is capable of being located by satellite.
IMO regulations stipulate that the system be equipped with a Concentrator, which process and encrypts data gathered from sensors, and a final recording medium which stores the data in a secure capsule that is able to withstand the aftermath of a devastating maritime accident. It is possible to conduct an inspection of the performance at any time. This could be performed annually or after repairs or maintenance of the VDR or signal sources that provide information to the system.
A reliable VDR will have a mobile-first layout that lets users sign in, check documents, and sign out on laptops and desktops aswell mobile devices and tablets while retaining the basic functionality. Make sure that the software is user-friendly, as this will accelerate due diligence and deal-making.
Look for look for a VDR that monitors page-level user activity to generate audit trails, and provide business insight on document review progress. For instance, if you find that your HR and legal due diligence teams are spending a lot of their time looking over documents on a particular topic you can identify any potential liability concerns early and address them proactively.
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