How to obtain an international business credit report

Nowadays, more than ever, obtaining an international business credit report is important when doing business internationally. You may be looking to partner with an overseas company or extend credit to a foreign client, and when doing so, you’ll need to know the business’s financial health. 

In this guide, we’ll help you navigate the process and ensure you’re making informed decisions when obtaining an international business credit report. 

Why you need an international business credit report

Before understanding how to get an overseas credit report, it’s essential to understand why these reports are so valuable. An international business credit report provides you with an in-depth view of an international company’s financial performance and stability. The report will include information, such as payment history, credit utilisation, outstanding debts and public records. 

 

By understanding the financial health of an international business, you’ll be able to avoid risks like fraud and will help you make informed decisions when entering into agreements. 

Benefits of international business credit reports

There are certain benefits to requesting an international business credit report that will help you in the long run. For example: 

 

  • Credit risk is avoided: by knowing the financial health of a business you may be interested in investing in, you’ll be able to make an informed decision about whether or not to proceed. 
  • It helps comply with regulations:
    businesses are more likely to comply with certain regulations if they know their financial health will be scrutinised before certain deals are made. 
  • Better payment terms: pricing can be negotiated by businesses through international business credit reports 

 

There are also a few things to look out for when requesting an international business credit report to ensure that you get the information needed. For starters, you need to make sure that the company you’ve requested the report from is reputable and reliable. 

 

Also, make sure that the company you want to use covers the geographic areas the business is located in. 

 

Lastly, make sure that you’re able to interpret the report properly and that you understand the information within it. Equally, it is crucial to pay attention to the negative information in the report so that you’re fully aware of the type of business you’re dealing with. 

How to obtain an international business credit report

Now, let’s take a look at the steps that need to be taken to secure an international business credit report in the best way. 

Determine what you need

Before you begin the process of obtaining an international business credit report, you’ll need to understand the type of information you’ll need. There are certain reports that will be more in-depth than others. 

 

Understanding your needs will help you choose the right type of report and ensure you get the most relevant information for your business decisions.

Choose a reliable credit reporting agency

Next, you’ll need to choose a reliable credit reporting agency when trying to obtain an international business credit report. These agencies will have large databases and global networks that allow them to give you detailed credit reports on companies worldwide. 

 

So, you’ll need to consider which countries they cover, how much detail they provide and how reliable they are. 

Request the report

Once you’ve chosen your credit reporting agency, the next step is to request the report. Most agencies offer an online portal where you can order international business credit reports. You’ll need to provide some basic information about the company you’re researching, such as its name, address, and country of operation. 

 

Depending on the country and the agency, it might take anywhere from a few hours to several days to receive the report. Some agencies offer expedited services if you need the information quickly, but this might come at an additional cost. 

 

Understand the report

Once you have the international business credit report, you should take the time to review it and understand it. The most important parts to look over will be the company’s credit score, payment history, outstanding debts, and any public records like bankruptcies or liens. 

 

If you’re stuck and don’t understand the report, some agencies provide a service that will help explain it to you. 

Monitor the company regularly

After obtaining your international business credit report, you should set up a system that helps you regularly monitor the credit of the business so that you can ensure you stay up to date with any major changes in its financial situation. 

 

Remember, the more you know about the financial health of the companies you’re working with, the better you can protect your business from potential risks. So, the next time you’re considering an international partnership or transaction, don’t hesitate to get an overseas credit report. It’s a valuable tool that can help ensure your global business ventures are successful and secure.


For more information on how to get an overseas credit report, be sure to get in touch with our friendly team of experts at Crediserve at 01992 414222.