Are entity background checks compulsory for all new entities that your organisation considers doing business with?
Do you know what an SME score indicates?
Have you done research to reveal and verify how prompt the business is when paying its bills?
Are you able to obtain trade references from other organisations affiliated with the business?
Do you have all the information relating to the active and inactive directors of the company?
Have you checked the legitimacy of the company and its Directors by verifying its registration with a CIPC database enquiry?
History is a great teacher. Are you able to obtain a detailed record of important changes in the company’s history?
Do you know how to verify the company’s VAT number and whether they are actually VAT registered?
Can you confidently say that you have mitigated all commercial credit risk during the process of evaluating the business?