Wednesday, 27 March 2013

Interested in UK, European & International company Information?

If so please visit our Business Information Blog:

There you will find recent Blog Posts on the following Subject areas:

Creditserve Business Information Blog

Account filing requirements for UK limited companies

Posted: 21 March 2013 This blog looks at the filing requirements for UK limited Companies.

Credit check potentional new customers

Posted: 13 March 2013 This blog looks at the importance of credit checking potential new customers to ensure that you know who you are doing business with and minimising the risk of being paid late or not at all.

Company credit checks on Swedish companies

Posted: 06 March 2013 This blog looks at credit information provided in an online company report on Swedish companies. The blog also looks at the accounts filing requirements and different types of companies in Sweden. 

Online credit checks on companies in Spain

Posted: 28 February 2013 This blog looks at the information provided in a typical company credit check in Spain. Also the different types of companies registered in Spain and the filing requirements.

Belgian company credit checks and legal obligation to file accounts

Posted: 25 February 2013 This blog looks at credit information available on companies and businesses in Belgium to carry out company credit checks. The blog also looks at the legal requirements to file accounts and determining a company's size.

Online Italian Company credit reports and account filing requirements

Posted: 20 February 2013 This blog provides details on the online Italian credit reports provided by Creditserve Business Information Ltd along with account filing requirements for Italian companies.

Different types of businesses and companies in France

Posted: 18 February 2013 This blog looks at the different types of businesses and companies in France. This blog also looks at the credit information available on a an online credit report supplied by creditserve business information Ltd.  

German company credit reports and their filing requirements

Posted: 12 February 2013 This blog looks at on-line credit reports supplied by Creditserve Business Information on German companies along with the accounts filing requirements and legal obligations.

Overseas companies registered in UK

Posted: 08 February 2013 This blog looks at the requirement of overseas companies having to register in the UK. The guidance is provided by companies house. 

Corporate Voluntary Arrangement

Posted: 04 February 2013 This blog is about  corporate voluntary arrangement
As well as running a business information blog we also have a commercial debt collection blog and a business credit report blog (See side bar).
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Google Author "By Matthew Pether"

Why you should credit check your customers

Why you should Credit check your potential or new customers

If you do not know the credit status of your customer, you increase the risk of being paid late or not at all. Prior to supplying goods or services on credit you should know the financial status of the companies you are doing business with. You should start of by obtaining the following information for the potential or new customer:-

New or Potential customer Company details

In each case you should obtain a signed credit application, which is signed by a proprietor, partner or director of the business (not anyone else). The following basic details should be obtained as part of the application:-

  1. Full Company name and address of the business including registered number (if company is limited). Also including other trading names and addresses.
  2. Full names and residential addresses of sole proprietor or partners. They are personally liable for all debts incurred so the residential address should always be obtained.
  3. The correct legal status of the business e.g. Sole trader, partnership or limited company
  4. Names and addresses of at least 2 trade references.
Obtaining written consent
It is important to obtain written consent from the potential customer to carry out credit checks on their business. This is particually important if you are credit checking sole traders and partnerships at their residential addresses. As part of the data protection act you must have a DP licence and the permission of the subject to carry out the credit searches. Normally this consent is obtained by adding a paragraph in the credit application form that credit checks will be carried out on them.

Perform a Company credit check
A company credit check is taken out on the prospective customer to determine if they are creditworthy. A detailed credit report from a credit reference agency, such as Creditserve Business Information Ltd. Our reports provide comprehensive information, which would allow you to make an informed decision about the customer you intend to do business with.
The credit check can be carried out online therefore allowing you to make an instant decision. The online credit check will provide you with a credit opinion and a risk score, which will indicate the likelihood of the business becoming insolvent within the next 12 months.

Creditserve Business Information Ltd can provide one off online company credit checks on a'pay as you go' basis these reports can be obtained via our Online Shop

Google Author: "By Chris York"