International Company Credit Checks
What is an international company credit check?
When you start trading overseas there are endless opportunities that new markets can offer, beneficial to your business such as increased productivity and profits. However, conducting business internationally can present financial risks, so it is essential that every decision you make is well informed. An international company credit check can take a closer look at your global customers and suppliers, whether existing or potential, for a deeper insight into any international business.
International business reports will help to ease your concerns, make practical risk assessments, and manage business risk. Being able to access global business information in this way means you can make the most of every opportunity to your business abroad.
How can international company credit checks help you?
Through accessing our consistently current and accurate database of 80 million companies throughout the world you can:
- Confirm the company’s core information such as the registered address
- Accurately assess the risks of engaging in international business
- Reduce exposure to any bad debt by accessing a company’s accounts
- Get a clear understanding of any adverse activity about a company (for example CCJs)
- You can run a health check on your suppliers and partners and keep them monitored to stay ahead of any potential problems that could arise
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More info for International Company Credit Checks
Will the company you are requesting a report for know that you have searched them?International business credit reports don’t leave a visible trace, however there will be a log kept of who has generated a report and what company the report is about for billing and auditing purposes. The subject company can request the information.
The importance of researching overseas marketsResearching your market abroad is vital as you can be alerted to warning signs such as an unstable economic environment, currency status and inflation, political instability, and any other information on overseas companies you may not have known about previously. Also, it is a good idea to find out if there are any international trading agreements in place between the UK and the country you are planning to do business in.
Why trade overseas?As time goes by more and more businesses are setting their sights overseas to seize more opportunities for growth and expansion. Business decisions are influenced by not only the condition of the economy today but also elements such as fraud and corruption. These are just some of the reasons why it has become important to examine the background of possible business partners and companies you want to do business with abroad. This means not only checking their credit history, but a thorough look for any other negative elements before making a commitment to a transaction.
How detailed will an international business report be?Overseas companies have different filing laws to the UK, therefore the level of information available could vary from country to country. Using the UK as an example, the company registry is Companies House and the amount of information filed by UK companies is quite detailed in comparison to a lot of other countries which is an important factor to keep in mind.
Why use us for your online international business credit reports?Coface business information is our dedicated online facility providing dynamically updated business information reports. It’s a quick and easy way to gain crucial credit information and provides factual information about a business with the thorough analysis of Coface. You can benefit from exclusive information based on our internal claim records. All reports are enhanced with an added value indicator about late payments and claims. This information comes directly from our credit insurance activity, capitalising on our extensive payment records as a global credit insurer. As well as this a clear indication of any negative information can help keep your business activity away from customers with a poor company rating or a bad claims record.