Business partner’s reliability is real intentions of a legal entity, its relations with other business partners and with the state generally. As time goes by every company works out its own operating procedures focused on checking of business partners’ reliability. It is not so easy to gain insight on details of this point for a first-time entrepreneur, as there is still no definite specific behavior for partners’ reliability checking, that will be equally efficient for all.
Due diligence is a multistage and continuous procedure that must be conducted by experts. Some managing directors, trying to protect their own business and willing to mitigate future financial risks at most, have been attempting to deal with this point independently so far. For this purpose they apply for help to the Federal tax service of Russia and other government bodies. But such behavior is not always justified, as there is a major risk to miss important moments that will play a crucial part in future.
Business partner checking for reliability
Company’s top management is fully responsible for business partner choice. Tax authorities warn about it and this peculiarity should be taken into account every time concluding a new deal. If after some time when your cooperation has started the tax body or any other government office has questions to your business partner, then it is quite possible that the same questions will be addressed to you.
Due diligence lets:
Secure yourself and your company from unjustified risks in future.
Determine if a legal entity is a short-lived company or not.
Find out business partner’s ability to pay debts and take responsibility for own actions.
In business considerable funds occur to be at stake. Concluding a contract with a mala fide business partner, a company hazards its financial well-being. It’s common knowledge when delivery time is disrupted or non-conforming goods are supplied. And sometimes it happens that having decided to rent an office and paid a big amount for that, a renter learns soon that the offered office does not belong to an owner at all.
All above mentioned is just one side of the coin, but company’s tarnished reputation, loss of credit on the part of steady customers – it is already a more serious problem. When it is possible to earn money again, but in order to regain trust and reputation it may require a lot of years. And even in a long while it is not always possible to regain lost trust and stability. That is why due diligence is a high-priority task. This checking should be the first step at any new cooperation with a partner.
Where to check business partners for reliability?
The Birank.com service is a place where any managing director may conduct a thorough stage wise checking of partners. Unlike the Federal tax service website that lets make just superficial analysis of a business partner and get to learn if it is a registered taxpayer or not, here you may obtain comprehensive information on a partner.
Service convenience is already appreciated by thousands of businessmen. Here it is possible to check business partner’s reliability and responsibility to other legal entities and also to the state online. The database of the Birank.com online-service contains information on all legal entities conducting their activity on the territory of Russia. Urgent and truthful information is frequently updated, that is why if a business partner gets a bank loan today, then already tomorrow you will get to learn it. With the help of Birank.com service you will be able to stay informed of the latest changes in activity of your future or current business partner.
In order to get an access to the vast database it is necessary to enter:
Taxpayer Identification Number (INN).
Primary state registration number applied to a company at the moment of its establishing (OGRN).
Business partner’s name.
Company’s location or legal address.
The full name of company’s managing director.
It is not obligatory to enter them all. Using just some criteria from above mentioned you will be provided with positive search results. But the more data you use by searching, the more possibilities you will have, the more careful checking of business partner’s reliability you will be provided with. The program is distinguished by simplicity and efficiency.
Birank.com service checks business partners’ reliability through all possible directions. After entering partner’s data and their sending, information on a business partner is displayed in a special window. A managing director gets accurate and urgent information from the trusted official sources immediately.
Birank.com service helps to:
Determine the companies which your business partner is cooperating with at the moment. Thanks to this it is possible to detect “shady” companies that work through shell firms or a recently established subsidiary.
Find out company’s debts and credits, if any or if there were any in the past. To investigate this point the bases of the Federal state statistics service are used.
Find information on bankruptcy procedures that is taken from the Unified federal register of bankruptcy information.
Obtain information on enforcement proceedings.
Get data on global contracts with the state from the Government contracts base. A company that has had global contracts with the state is considered to be a reliable business partner.
Determine if a company had court proceedings in arbitration and learn their results.
Detect company’s real financial standing for today. Investigation of this point will help to make conclusions on operating efficiency of the partner you are planning to conclude a contract with, its liquidity and stability.
Birank.com is a complex program that uses information from all possible federal sources, checking business partners for any points. Careful data collection and detailed analysis of the obtained information taken as a whole let make right conclusions and not admit unjustified deals with mala fide business partners.
Those who wish may complete brief training what lets learn all peculiarities of the service. A personal manager will give you online-training and teach to make schedules, count up ratios and make diagrams. It is possible to fully realize convenience and simplicity of the Birank.com service even today. For this it is enough to visit the website and test a trial access by checking one of your business partners.