On the other hand, the buyer needs appropriate credit support to reduce his risk in order to pay for the documents of the goods that have not been shipped yet. We at Vendorrado Export Management, using our experienced experts, provide a range of authentication services, including extracting vendor company information, analyzing information, liaising with international authorities to assess corporate credentials, and providing background inspection services. We offer our esteemed customers. There are various methods for examining the validity of foreign companies, each of which can be tailored to specific import sources and also entail a degree of risk for the buyer.

In the first step of assessing the credibility of the seller company, the buyer must pay attention to the type and extent of trade and political relations between the country of origin and the country of destination. Since the trade relations of the country of origin with the buyer country may be cold and not in good condition, or even the trade or political relations between the two countries may be severed, the buyer should pay enough attention to this issue and the possible risks.

Also, in order to assess the credibility of the seller company, the following general steps can be considered, which are provided to customers as part of the package of import services by Vendorrado Export Management Company.

Step 1: Use reputable local or international accreditation institutions (Credit bureaus) that include organizations that collect credit information and use it in various formats such as credit score and credit report (Credit reports are provided to banks, financial and credit institutions and businesses. There are many accreditation centers in the world, including Experian, Equifax and TransUnion, which are leading companies in this field.

Step 2: Request banking information through banks in order to know the financial situation, work history, turnover of the company.

Step 3: Prepare a brochure of the company’s activities and submit regular annual financial reports (Annual report)

Step 4: In addition, some of the identities of the companies can be accessed through the common rooms or the business section of the embassies, and also requesting a certificate of origin can greatly help reduce the risk of the purchase.