Why do we need to carry out a Business Due Diligence on our suppliers? In international trade, you may encounter some problems:
–Fell into a foreign trade scam.
–May fall into foreign trade scam.
–To ensure the safety of payment, take an investigation before initial cooperation.
–Payment has been made, but the delivery date is seriously delayed, it needs to be investigated whether it is a problem with the supplier’s capital chain.
–The account information provided by the supplier does not match the company information, and the reason needs to be investigated.

Here are the process and points for your reference.

Start by checking the legitimacy of the supplier’s business through their website, contact details, company location, and registration status. Confirm the validity of licenses, registrations, insurance coverage, bank account details, etc.

Implement continuous monitoring of the supplier’s financial transactions, operations, and public records to identify any adverse changes in their risk profile.

Scrutinizing the business owners, assessing adverse media, and screening public records to mitigate risks associated with fraud, bankruptcy, and legal issues.

Tailor the due diligence process according to the specific risks associated with each supplier. This personalized approach ensures a more effective assessment and discovery in time of potential risks.

Supplier Background Investigation is designed to provide small and medium-sized businesses with detailed insights into a company’s financial health, legal status, and operational transparency.

Want to ensure the safety of your payment? Contact with us at [email protected], and let’s set up the proposal for you.