Background
Standard Credit Checking Service
BWF has partnered with First Report (an Experian reseller) to offer a credit checking service to our members. We have purchased 5000 credit check reports which can be taken up by any member logging onto the system.
The reports can be taken out on limited companies and non-limited businesses and the information allows you to enter the proposed amount of credit you intend to issue and the terms of payment in days in the case of a limited company. The system will then provide a credit status analysis and a read out of the risk level for your target business.
The report also gives details of the target company's trading history over 5 years, including summary accounts, (where these have been filed), balance sheet and key ratios, details of Directors, and any CCJs. Non limited business reports show a credit rating, risk guide and 6 years history for CCJ's. This service is free of charge to members of the BWF.
How it works
To access this service you will first need to log in to our website as a BWF member.
Now follow the credit-checking link to be issued with a generic user name and password and a hyperlink through to the BWF/First Report Portal.
Enter the username and password.
Once accepted, simply enter the details of the company you would like a credit report on, under the menu option Get Report. We have arranged a unique freephone number 0800 970 2485 with the provider should you need assistance getting the report or with any other aspect of the credit checking service.
Client Monitoring Service
In addition, you will be presented with the opportunity to set up your own user account to monitor your clients' trading position and their continuing credit worthiness. This can be set up in a very straightforward manner, with the discounted price of £149 +VAT transacted on-line. This can only be accessed via the link portal on the BWF members' website.
With the monitor service you can list as many limited companies as you want for a constant surveillance alert system. When this is set up, you will get an e-mail alert when any key event happens that causes deterioration in the trading capability of their client. This could be a CCJ, a set of accounts filed with Companies House which indicate a worsening trading position, or a marked depletion in working capital.
Part of this service includes a debt recovery letter should the worst happen.
This service, normally costing £250 + VAT per annum, is available through the BWF for £149 + VAT for an unlimited number of companies. This is a substantial discount for a first rate service.
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