Lack of clarity in company documents
Inconsistent information in registration documents, contracts and operating data makes it harder to assess who the company is actually dealing with.
Contractor verification
Contractor verification - assessing business credibility before cooperation starts
We help assess legal and financial risk before an agreement is signed. We verify key company information, identify warning signals and support safer business decisions.
Essence
What does contractor verification involve?
Contractor verification is a risk assessment carried out before a business relationship starts or before a credit limit is increased. In practice, it includes analysis of registration data, the people responsible for the company, payment reliability and the main legal risks that may affect the safety of the transaction. It also helps determine whether the counterparty is operating properly from a formal standpoint and whether additional safeguards should be introduced.
The aim of verification is to make a business decision based on facts: whether to start cooperation, on what terms it should be conducted and which safeguards are worth implementing from the outset. This helps the company reduce the risk of financial loss, disputes and later recovery problems.
Checking the counterparty before deciding on cooperation
Challenges
What problems doescontractor verification solve?
A new business relationship with no history
When the parties have not worked together before, it is harder to assess the partner's reliability and approach to payment deadlines.
Risk in higher-value transactions
The higher the value of the transaction, the greater the consequences of a delay, dispute or non-payment.
No confidence in the safety of the transaction
Unclear cooperation terms, incomplete information about the partner and a lack of verification of key data mean the company operates in conditions of elevated uncertainty.
Cooperation with a foreign counterparty
In the case of a foreign counterparty, it is harder to rely on verified and accurate data, because information available online is not always complete or consistent with the actual situation.
Offer
What can we do for your company?
01
Verify registration data and the company's legal status
We check the counterparty's key identification data, registration status and formal way of operating. This helps confirm that the cooperation is being conducted with the correct entity and that the documentation does not contain material inconsistencies.
02
Assess the counterparty's financial stability
We analyse available signals regarding financial condition and payment discipline in order to assess the risk of cooperation. This helps identify situations that may later lead to payment delays or performance problems.
03
Check ownership and capital links
We verify ownership and capital structures to better understand the counterparty's business environment. This helps assess whether there are dependencies on the partner's side that may affect transaction security.
04
Verify court and enforcement proceedings involving the partner
We check whether court proceedings, enforcement actions or other relevant disputes exist in relation to the counterparty. This makes it possible to assess legal risk earlier and understand how these circumstances may affect the planned cooperation.
05
Assess transaction risk and recommend safeguards
Based on the collected information, we assess the level of risk in the planned transaction and recommend safeguards suited to that level. This includes recommendations on cooperation terms, limits and contractual provisions.
06
Prepare a risk report before the agreement is signed
We provide a structured summary of the most important findings, risks and recommended actions before cooperation begins. The report supports an informed business decision and helps organise the next formal steps.
Verification scope
Which data do we check during contractor verification?
Scope of the contractor verification report
The document defines the scope of information checked during contractor verification before cooperation begins.
1. Registration and identification data
- full company name
- legal form, for example a limited company, partnership or sole proprietorship
- registered address and branch addresses, if applicable
- identification numbers, including tax number, statistical number and the entry number in the relevant business register
- date of business registration
- business status, for example active, suspended or in liquidation
- share capital
2. Representation and company structure
- details of people authorised to represent the company, such as board members or owners
- method of representation
- partners or shareholders
- capital links with other entities
3. Financial and payment verification
- information about indebtedness and entries in debtor registers or business information bureaux
- history of payment delays
- indicative assessment of payment capacity
- information about enforcement actions
4. Court and enforcement proceedings
- pending court proceedings
- enforcement proceedings carried out by enforcement authorities
- restructuring proceedings
- insolvency proceedings
5. Entries in public registers
- verification in public business registers
- verification in the public debtor register and registers of insolvency and restructuring proceedings
- verification in commercial debtor registers
6. Tax and formal verification
- VAT taxpayer status
- confirmation that the VAT number is active
- verification of bank accounts reported in the official tax whitelist
7. Operational information
- company activity profile
- industry and scale of operations
- website and contact details
- confirmation that the business is genuinely operating
8. Cooperation risk assessment
The client receives a summary and risk assessment, for example:
- low cooperation risk
- elevated risk of payment delays
- high risk of insolvency
Choose the cooperation model that fits your needs
Every company is in a different situation, which is why we offer cooperation models tailored to current needs and the way the business operates.
One-off verification
For businesses that want to verify a specific counterparty before signing an agreement, entering a higher-value transaction or starting a new business relationship.
Ongoing verification support
For companies that regularly verify new business partners and need ongoing support in assessing risk.
Cooperation
Write to us about contractor verification
Briefly describe the planned cooperation and what the verification should cover. After the analysis, we will come back with recommended next steps and the scope of the review.
- Risk assessment before cooperation begins
- Report with key findings and recommendations
- Response within 24 hours
FAQ