Several factors need to be taken into consideration if you decide to trade with another company. But before making an informed decision, you should as a matter of good practice first obtain credit information on them. The businesses which might warrant a credit information search are:
- Those you trade with on a regular basis
- Those you trade with periodically
- Those who ask for a higher level of credit
- Any new or potential clients
Obtaining credit information will allow you to verify the exact legal entity you are trading with, therefore helping you to make informed business decisions.
What is Included in Credit Information
Credit information will include information about the directors of the company, their addresses and how historically reliable the companies are at paying their bills and whether they have any bad debts. Credit information is vital if a businesses wants to ensure its financial stability. It is important that you obtain credit information on any of your clients whose failure would have dire consequences for your business' future. A credit information company can check the details for you from the electoral register. They are able to access personal information about directors, any CCJs or bankruptcy details. On the other hand, incorrect credit information would be detrimental to either party.
For any business to be successful, working to deadlines will be of great importance, so seeking credit information on prospective clients as soon as possible will enhance your prospects of creating a satisfactory business association. Obtaining credit information will alleviate your worries and concerns in one painless transaction and answer questions you may have about how credit worthy the companies with whom you trade really are.
checkSURE can provide credit information for your company about prospective clients. The service is very quick and accurate, delivered online immediately.