Partner reliability check


Business partner reliability check

When entering a contract, parties want to make sure they deal with a trustworthy partner, who is able to fulfill the obligations assumed and deliver goods/services or effect payment in time. When it comes to operating abroad, the task becomes more challenging. This is why it is so important to check exporters and importers in Ukraine for credibility even before you proceed to detailed negotiations.

With a deep insight into business traditions established on the Ukrainian market, we can protect you against potential fraud and help minimize any counterparty-related risks. To achieve the goal, we apply our proprietary due diligence procedure, which involves two major steps.

     We carry out this verification in 2 stages:

  1. Documentary inspection. To start with, we derive an extract from the State Register of Legal Entities and Individual Entrepreneurs. This is a legal document, which allows us to know:

·         Whether the business is really run legally, be it by a company or an individual entrepreneur;

·         The entity’s registration address;

·         When the company was established and who are the owners now;

·         How big the statutory capital is;

·         Who leads the company, i. e. who is the person possessing legal powers to represent it during negotiations and sign contracts;

·         What business activities the company or individual entrepreneur claims to carry out;

·         Whether the entity is undergoing winding up or a bankruptcy procedure


      2. Comprehensive analysis of such a business itself. Not limiting ourselves to checking the State Register only, we dig deeper by performing the following: 

·  Verification of incorporation documents and accounting records. We apply this type of analysis to estimate whether your prospect counterparty will be able to perform as expected and fulfill its contractual obligations in terms of delivery and/or payment. This check also reveals the partner’s track record, with all its past successes and failures.

· Check for availability of conditions essential to fulfill obligations under the prospect contract. This involves the analysis as to whether the business possesses the necessary facilities, equipment, experts, engineering staff, transport, licenses, etc.