Working with companies overseas can be a little daunting, particularly for small businesses. When working with international clients, all kinds of extra concerns come into play: potential language barriers, issues around trust and reliability, and the problem of chasing unpaid debt.
When working with a new client outside your own country, we always recommend that you obtain an international credit report. Ideally, you should obtain the report before you start work so that you can set suitable payment terms and dodge any clients with financial problems.
How the International Credit Report Looks
CheckMyClient international credit reports follow the same familiar format as our UK and Ireland credit reports. As soon as you access the report, you’ll be comfortable with its contents and able to assess the information quickly.
Across the top of the report, there are a series of tabs:
- Company info: Gives you all the basic information about the company in question, such as the trading address and any previous trading names. Take care to note the currency on this page so that you interpret the figures in the credit report correctly.
- Credit score: This tab shows CheckMyClient’s assessment of the company’s creditworthiness. We give you a handy number out of 100 to make this tab easier to understand, and we also offer you a recommended credit limit for that company. The Date of Last Rating Change tells you how up to date these recommendations are.
- Shareholders: On this tab, international credit report shows very similar data to the UK and Ireland report. You can see any individuals or companies holding shares, the share capital and any related companies.
- Directors: Again, the international credit report follows a familiar format. Here, you can review the directors’ names and addresses.
- Finances: You’ll find a detailed breakdown of the company’s financial position in this tab. From here, you can crunch the numbers and assess the true financial position of the business.
- Misc: Here, we store information that wouldn’t fit into any other section on the international credit report. Often you’ll find data such as bank account details here.
Why Check an International Report?
When starting a contract with a new client, consider the cost of debt collection action very carefully. In many cases, collection involves hiring an agency that triggers collection with a third party in your client’s country, and the fees involved quickly mount up.
The CheckMyClient international credit report is a pre-emptive measure that will help you capitalise on the best contracts and treat carefully where you see a credit risk. With the benefit of foresight and solid financial data, you can often avoid problems with overseas clients before they arise.
Check your client now!
- Order an International credit check in just 5 mins
- We look at the latest data available and have a 3 year business credit report
- All business reports emailed to you and stored online for you
- Improve your companies cashflow & reduce the risk of bad debt.
- Costs just £40