In today’s global economy, we are connected in more ways than ever.
The US is the largest importer of goods in the world, buying products from China, Mexico, Canada, Japan, Germany, and other countries totaling $2.5 trillion annually. The US is also the 2nd largest goods exporter in the world sending $1.6 trillion worth of products overseas.
It’s not just physical products either. The US is the world’s largest importer and exporter when it comes to services.
Doing business with an international company, whether you are a buyer or seller, requires you to do your due diligence to avoid putting your company finances at risk. Buying an international business credit report is a great way to evaluate your international customers and suppliers.
Buying International Business Credit Reports
The types of international business credit reports you can get will depend on where the business is located. Some countries have developed credit reporting structures similar to what you find in the United States with information available upon demand. For example, reports are readily available in Canada, the United Kingdom, and parts of Mexico and South America.
However, in many parts of the world, there may not be a centralized database for international business credit. That means someone must manually compile the information by doing a field investigation.
Some countries require company financial information to be made available for most companies, such as in the UK. In the US, only publicly traded companies must make their financials available. In other places, no such information is released.
So, what type of information you get from international business credit reporting agencies, how long it takes to get a report, and what it costs can vary significantly.
Which Is the Best Business Credit Report?
Finding which credit reporting agency to use can also be a challenge as not all companies can get credit information from everywhere. Most specialize in certain parts of the world. That is why it makes sense to work with a company like Command Credit that has assembled the best international business credit reports from multiple agencies.
At Command Credit, you can get global coverage by choosing among international business credit reports for companies such as Equifax Canada, Experian International, and Credit Reports World.
International Business Credit Reports for Canada
If you are looking for the best business credit report to check Canadian companies, Equifax Canada is the best choice. This division of Equifax is based in Canada and provides instant business credit and financial information on Canadian businesses.
A business credit report from Equifax Canada shows the information you need to assess the financial health of your customers and suppliers.
- Payment index
- Tradeline information
- Derogatory legal filing
- Company information
- Credit references
International Business Credit Reports for Mexico
Credit Reports World has deep roots in Latin America and is a good choice for international business credit reports throughout Mexico. For areas where credit reporting is not easily accessible, Credit Reports World will run custom investigations.
Reports from Credit Reports World include:
- Fresh investigations of current business financial health
- Answer custom questions about businesses
- Includes three USA trade references
- Includes a free investigator/researcher opinion on open credit amounts
For custom investigations, credit reports can take 10-12 working days, although you can order express reports that take 5-6 days or urgent requests delivered within 36 hours in most countries for an additional fee.
International Business Credit Reports for the UK
Experian International is a good source for commercial credit and financial information on UK companies.
A business credit report on a UK business from Experian International will cull information from UK credit reporting agencies, banks, creditors, and tradelines. A business credit report example from Experian International typically shows information such as:
- Business identity verification
- Corporate data
- Credit risk ratings
- Directors and shareholders
- Payment history, including missed payments
- Business credit scores
International Business Credit Reports for Other Countries
While each of the above agencies has strengths in certain parts of the world, each also provides international business credit reports in other areas. Experian International has access to international reports in 225 countries. Credit Reports World is particularly strong in Latin America and South America, but also provides reports for other areas of the world.
Figuring out which agency to work with can be challenging. The international business credit reports experts at Command Credit can help. When you contact Command Credit, they will discuss your specific needs and provide expert guidance so you get the information you need.
For the best international business credit reports, contact us to request a consultation.