In today’s world business decisions are based on the information about potential partner. The main criteria in this case are quality, timeliness and insider view. Obtaining information about the stability of the partner is the first step to establishing long-term partnerships and efficiently managing credit risks.

IBcontacts company prepares credit reports on the borrowers from Ukraine and other CIS countries ordered by foreign suppliers, export credit agencies (ECAs), and international banks with a view to examining Ukrainian buyer’s solvency and preliminary assessing possible risks of transactions and projects.

A credit report is a primary research on the borrower. It consists of the following chapters:

• legal assessment of the business,
• structure of ownership, investors and creditors,
• import and export activities of the company,
• principal buyers of the supplier,
• market analysis and company’s position thereon,
• analysis of financial performance for the last three years,
• analysis of payment discipline,
• credit opinions and rating of the enterprise.

In the course of credit report preparation, IBcontacts specialists closely cooperate with the company under examination and conduct interviews with its officials. This enables to ensure the most accurate data and achieve maximum efficiency when employing the research in the future.

The time frame for preparing such a credit report varies from 1 to 6 days depending on the customer requirements and urgency.

When making credit reports, IBcontacts specialists resort to their own information resources and data obtained directly from the company, as well as to open sources of state and industry databases, thoroughly checking the authenticity of the latter.

FAQ

What happens if you refuse to provide us with data/information?

- Lack of information about your company could mean that the insurance company, guided by the prudence concept, will not be able to take the risk, and therefore will grant only a small credit limit or even refuse to insure trade credit.

In such a case, some of your partners (i.e. suppliers), reduce to supply goods or alter the terms of payment.

What are the benefits you receive by providing us with relevant information (including financial) about your company?

- You will make evaluation of the creditworthiness of your company possible and enable us to find solutions that meet your needs.

- Your supplier will be encouraged to develop and improve business relationship with you. This could mean an increase in your turnover, improved line of credit or additional discounts.

Note: All accounts receivable of foreign suppliers are subject to insurance. The application for setting credit limits and insuring goods credit is submitted in respect of all buyers, regardless of their financial situation and period of cooperation with the supplier. Therefore, it is the case of adhering to the fundamental term of the contract between the insurance company and your supplier, not his lack of confidence in your company.