Questions

What are good third party companies to use to run credit on my vendors before I extend any terms?

If I am providing service. How do I decide to extend $20,000 credit and pay in 45-60 days. I want to know if there are any 3rd party companies that I can run credit on my vendors

2answers

Typically I use Dun & Bradstreet (https://www.dnb.com/) for vendor or customer credit lookup. They have good customer service and very accurate information.


Answered 8 months ago

I have never used 3rd party credit check since they don’t take any responsibility. At the end, of your vendor doesn’t pay, you’ll get the financial hit.
Instead, why don’t you use AR insurance to spend your money on? It’s an insurance that covers your AR if they don’t pay. (Of course, depending on conditions)
Let me know if this helps.


Answered 6 months ago

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