A vdr is similar to the black box of an aircraft. It can store a range of data that can be retrievable in the event of an incident on the water. The system is comprised of a device that collects data from onboard sensors and a protected capsule that holds the data. It is designed to withstand fire, shock, deepsea pressur, and penetration. It is also equipped with an electronic communication device that is connected to the ship’s emergency position reporting system (EPIRB) and is able of being tracked by satellite.

IMO regulations state that the system should be equipped with a Concentrator which processes and encrypts the data collected by sensors, as well as an end-to-end recording medium which stores the data in a secure capsule that can survive an incredibly serious maritime accident. It should include the capability to conduct a performance test anytime, either every year or article after repairs or maintenance work to the VDR or signal sources that provide data to it.

A quality VDR should be mobile-first designed that allows users to sign in and review documents on desktops, laptops tablets and mobile devices and maintain the same fundamental functionality. Be sure that the software you choose to use is easy to use, since this will help accelerate due diligence and dealmaking.

Look for look for a VDR that has the ability to monitor user activity at the page level to create audit trails and provide insightful business information on the progress of document review. For instance, if you notice that the HR and legal due diligence teams spend the majority of their time looking over documents related to a specific topic, you can identify any potential liability concerns early and address them proactively.