Company Credit Report

A company credit report can provide the best possible information as to the likelihood of a business defaulting on its debts. It is recommended that you buy a company credit report on those companies whose failure will have a damaging effect on your business.

checkSURE Ltd is an online service that provides company credit reports on the credit ratings of businesses, partnerships and organisations.

Benefits of Company Credit Report

As well as monitoring the financial position of a company, a constantly updated company credit report is also a useful tool to obtain any required background and history on business clients. Here are a few more reasons why a company credit check is useful:

• Helps you decide which companies to extend credit to.
• Allows you to reassess credit terms with the company if they are late making payments.
• Setting appropriate terms with clients in accordance with their credit worth.
• If the company is unable to pay, company credit checks are important before instructing recovery action as a final way of verifying your client's legal status and whether other creditors are pressing for payment.
• It will verify the correct legal entity you are trading with.

A company credit check can provide a wealth of information about a possible future client, everything that would help you to make prudent financial decisions. As a business you should obtain a company credit report with all new and existing clients to find out their creditworthiness, as you are the victim if they fail to honour their debts.

By using a company credit report service such as checkSURE, you can monitor a client's performance during the course of trading, and you will be alerted if there are any changes in their financial position. checkSURE's "Keep it Live" facility will deliver email alerts directly into your email inbox. Every time there is a change in the status of directors or if a charge or mortgage is levied against the assets of the company. A company credit report will allow you to reassess credit terms and if the account is in arrears, it can assist with further decisions you may want to take for its recovery.

If your company provides other companies with credit, it is vital to understand their financial history. Obtaining a company credit report on a company or organisation provides the essential information required for making prudent financial decisions. Before making any business decisions, it is beneficial to obtain a company credit report.