One off Business or Company Credit Reports

Are you Looking for One Off Business or Company Credit Reports plus Credit Decisions, Credit Checks & Credit Searches?

Are you fed up of having to pay upfront for Business Credit Reports via a 12 month subscription package or a 12 month / annual credit checking contract?

If so then please feel free to try our One Off Business Credit Checks or Company Credit Reports from CheckRate.
About our One Off Business Credit Reports:

We offer Single Snap Shot Decisions - on a One Off Report basis, as well as Abbreviated Company or Business Credit Reports on a One Off Report basis and Fully Comprehensive Business or Company Credit Checks or Finanical / Credit Reports - on a One Off Report basis via our online credit reporting system.

Business Services Website - Package of Business Credit Control & Web Marketing Services

In addition to the One Off Business Credit Reports or Company Credit Checks on offer we also offer a low cost 12 month subscription to a unique Trade Credit account opening decision making tool which gives account openers the ability to make quick and easy credit assessments decisions, to help speed up and make efficient, the account opening process.  This online credit decision making tool can be purchased seperately or as part of a package of business credit control and credit management services. 

If you click on the link you can see the Packages that are available.

If you have any further questions please email: mike@checkrate.com

Business Services, Credit Control Services, Boost Web Sales Services: 

All our packages offer Business Credit Report and a Financial Trustmark as well as the Trade Credit Account Opening Decision Making Tool.

Back to the One off Company Credit Report Services:

If you want to stick to Pay as You Go UK & Irish Company Reports or Business Credit Reports on a One off Report basis you can do so by clicking on the Link and follow the process for obtaining our Pay as you Go or One off Reports!

Business Credit Management Services

If you are looking for Business Credit Management Services including a Trade Account Opening Decision Making Tool, UK Business Credit Checks, UK Company Credit Reports, UK & Irish Director Credit Checks, Irish Company Credit Reports and more then please feel free to take a look at http://www.checkrate.co.uk.

UK Credit Management Services for UK, European & American Businesses & Companies:

The UK Credit Management Services available are:

• Trade Account Opening or Credit Checking Decision Maker Tool
• UK Express or "Snap Shot" Reports
• UK Fully Comprehensive Company Credit Reports
• UK Business Reports
• UK Sole Trader Reports
• UK Ltd Company Reports
• UK Plc Company Reports
• UK Company Financial Accounts
• UK Company Credit Ratings 
• UK Company Credit Limits
• UK Non Ltd Reports

The Irish Credit Management Services available are:

• Trade Account Opening or Credit Checking Decision Maker Tool
• Irish Express or "Snap Shot" Reports
• Irish Fully Comprehensive Company Reports
• Irish Ltd Company Reports
• Irish Plc Company Reports
• Irish Company Financial Accounts
• Irish Company Credit Ratings
• Irish Company Credit Limits

For more about our Credit Management Services including product info, package prices and Sample Reports etc. please visit our website - http://www.checkrate.co.uk .

Business Credit Control Services

If you are looking for Credit Control Services including a Trade Account Opening Decision Making Tool, UK Business Credit Checks, UK Company Credit Reports, UK & Irish Director Credit Checks, Irish Company Credit Reports and more then please feel free to take a look at http://www.checkrate.co.uk.

UK Credit Control Services for UK, European & American Businesses & Companies:

The UK Credit Control Services available are:

• Trade Account Opening or Credit Checking Decision Maker Tool
• UK Express or "Snap Shot" Reports
• UK Fully Comprehensive Company Credit Reports
• UK Business Reports
• UK Sole Trader Reports
• UK Ltd Company Reports
• UK Plc Company Reports
• UK Company Financial Accounts
• UK Company Credit Ratings 
• UK Company Credit Limits
• UK Non Ltd Reports

The Irish Credit Control Services available are:

• Trade Account Opening or Credit Checking Decision Maker Tool
• Irish Express or "Snap Shot" Reports
• Irish Fully Comprehensive Company Reports
• Irish Ltd Company Reports
• Irish Plc Company Reports
• Irish Company Financial Accounts
• Irish Company Credit Ratings
• Irish Company Credit Limits

For more about our Credit Control Services including product info, package prices and Sample Reports etc. please visit our website - http://www.checkrate.co.uk .

What is the CheckRate Company or Business Credit Limit

What is the CheckRate Company or Business Credit Limit?

The company credit limit is the recommended total amount that should not be exceed in the extension of credit at any one time to the company or business in question.

The score is calculated using many of the same data fields as the Credit Rating Risk Score and is calculated in conjunction with the Risk Score.

These fields include:

1. Debtors & Cash (where avaialble)
2. Turnover (where available
3. Net Worth
4. Working Capital
5. Net Cash Flow Operations
6. Shareholder Fund

If a company has a positive rating the credit limit would use the above fields to calcualte the amount of credit that can be extened at anyone time.  If there is a negative rating then there usually would not be any limit.   If the Company has High Value figures in the above Fields then it is likely to have much larger Credit Limits than Companies with low (or negative) figures in the above fields.  The financial items used are fairly standard for credit limit assessments.

How the CheckRate Credit Rating Risk Score is Calculated

How is the CheckRate Credit Rating Risk Score calculated?

The CheckRate Credit Rating Risk Score calculations are very complex algorithm that takes in to consideration many data sets from the reports, including Financial figures from the P&L (where filed) and Balance sheet, as well as other predictive fields (such as Number of Directors, Location, SIC code, CCJ & Writs, Part of a Group or not and Mortgage Charges etc.)

Who Built the Credit Rating Risk Score Algorithm's?

The different Credit Rating Risk Score Algorythm's was developed by Pan European Industry Rating Score experts who analysed company failures and business default payments over a 36 month period.

The Process!

Using the detailed data analysis, the key Financial data variables and other data field variables both used for predicting failing companies within the next 12 month or the liklihood of a default payment on businesses in the next 12 months, were combined together in complex algorithm to come up with the prediction score (using a relevant weighting of predictiveness for each predictive variable).

Stress Testing for Accuracy!

These variables were then measured against the entire database and stressed test to ensure accuracy and when the model was perfected and highly predictive it was used to calculate the Credit Rating Risk Scores on all UK & Irish Ltd Companies & UK Non Limited Business, that we now use.

Key Data Fields Used

1. Company Age
2. Company Size (Due to different calculations and predictive weightings used)
3. Turnover
4. Net Worth
5. Cash & Other Liquid Assets
6. Profitability
7. Networth
8. Age of the company accounts and whether they are filed on time
9. Key Ratios (Gearing etc)
10. Comments from Independent Auditors (Adverse can affect a score)
11. Director Numbers
12. Director Ages
13. Director Titles
14. Director’s history and performance (Associated Company scores and failures)
15. Group Structure (Ownership and Associated Company Scores & ailures)
16. Demographics (Industry, Location etc).
17. Mortgage Data (Amounts and Numbers)
18. Industry insolvency trends (Regualr Analysis on Industry Failure Trends)
19. Number, Value and Regularity of CCJ’s 
20. Time critical filings (over due for filing accounts at the registry increases risk of failure).

Real-Time Accurate Decisions that move with the times!

CheckRate ensure the accuracy and predictiveness of the Credit Rating Risk Score by consideration the problems that companies are facing during the tough economic times that the double dip recession has offered and is offering.  Especially with certain high risk industry sectors.  We ensure our scoring model moves with the times by incorporating the latest trends in Company insolvencies.

The Credit Ratings Risk Scores that CheckRate use, have been further processed to reflect these insolvency trends, using the Standard Industry Classification (SIC) codes, and this ensures companies in the worst affected industry have had their scored adjusted accordingly.

How often is the Risk Score calculated?

The CheckRate Credit Rating Risk Score is calculated during an automated process on a daily basis.  When any of the fields within the algorithm's change, from daily feeds of Data we get in from all our Data suppliers (Companies House, Irish CRO Office, Registry Trust, High Court & Sheriff Court Data, Gazette's etc.)  the Credit Rating Risk Scores are updated on a real time basis.

New Accounts Filed:

After a company has submited its latest set of annual accounts at Companies House, it usually take between 1 week and 3 to be processed, depending on seasonal peak times, then as soon as the accounts are available to the public, the documents are released to the Credit Reference Agencies to be processed and analysed.  This usually take a few days and are then added to the database and a new score would be calculated and made available.

About the CheckRate Credit Rating Risk Score

What is the CheckRate Credit Rating Risk Score?

The Checkrate Risk Score Predicts the likelihood of a UK Ltd or Irish Limited or Plc Company becoming insolvent within the next 12 months, whilst predicting whether a UK Sole Trader or Partnership Business (Non Ltd Business is likely to default on Payment (get a CCJ) in the next 12 months.

There are three different types of Score used:

1. The Established Company Score for Companies who have filed accounts
2. The Newly Incorporated Company Score for Companies yet to file accounts
3. The Non Ltd Business Score for Businesses who don't hae to file accounts

Established UK & Irish Ltd & Plc Companies CheckRate Credit Rating Risk Scores:

The Established Company Credit Rating Risk Score has three main variations for the different sizes companies as per Companies House Filing Regulations.  Small Companies do not have to File a Profit & Loss sheet (P&L) so as there are some bits of data missing that score needs to be different.

Medium & Large or Group Companies have to file Profit & Loss so they use different algorithms due to the extra data in their accounts.  The medium and large company predictive variable differ though so the two models have different weightings of certain fields to reflect the differnet levels of predictiveness of those data sets for the different size bands of companies.

CheckRate Established UK & Irish Ltd & Plc Company Credit Rating RiskScore definition where Accounts are filed
71-100	Very Good Credit Worthiness
51-70	Good Credit Worthiness
30-50	Credit Worthy
21-29	Credit Against Collateral
0-20	Caution - Credit at your discretion
No Rating	Financial Statements are too old
Liquidated/Wound-up	Company is liquidated or is wound-up
Dissolved	Company is dissolved
Petition	Petition has been filed

Newly Registered UK & Irish Ltd & Plc Companies CheckRate Credit Rating Risk Scores:

The newly incorporated Company Credit Rating Risk Score is similar to a Business score as there are no accounts filed so the number of variables are far less until the first filing.  The score does take in to consideration the risk levels of the industry and the company using other fields (such as directors and location) and also uses associated company info to predict risk levels of the new company.

CheckRate UK & Irish Ltd & Plc Company Credit Rating Risk Score definition where no Accounts are filed (Newly Registered Companies)
51-100	Low Risk
30-50	Moderate Risk
0-29	Caution - High risk
Liquidated/Wound-up	Company is liquidated or wound-up
Dissolved	Company is dissolved
Petition	Petition has been filed

UK Non Ltd (Sole Trader & Partnerships) Business CheckRate Credit Rating Risk Scores:

The Non Limited Business Credit Rating Risk Score using Non Financial Data Fields such as Operation Type, Premises Type, Industry Classification, Age of Business, Proprietor Info, and Dafault Payment History. 

CheckRate UK Non Ltd (Sole Trader & Partnership Business Credit Rating RiskScore definition (No Financial Information due to anture of the Businesses).
71-100	Very Low Risk of Default
51-70	Low Risk of Default
30-50	Moderate Risk of Default
01-29	High Risk of Default
Not Rated	A Status or Event has effected the score

About our Company Web Check Services (Enhanced version of the Companies House service):

The CheckRate Business WebCheck service offers a searchable Company Names and Address Index free of charge, on UK (England, Northern Ireland, Scotland, Wales & Republic of Ireland) Companies similar to the service offered by Companies House.

This service, like the WebCheck service enables people to search for information on more than 2 million UK Companies.


However the CheckRate service also allows you to search on over 600K+ Irish Companies as well as over 2.4 million UK Sole Traders and Partnerships. 

The UK & Irish Web Company searches including additional Credit Check can be carried out on a UK Company, Irish Company or UK Non Limited Businesses (sole trader or partnership) by using the company or business name.

In addition to the free Company or Business details that are offered via the Companies House system (Name, Registered Address, Trading Status, Company Registration Number), the CheckRate system also provides a Free Financial Assessment, Credit Check or Credit Reference Agency opinion on the Credit Worthiness of the Company (or Business) based in the United Kingdom (England, Northern Ireland, Scotland & Wales) or the Republic of Ireland.  

As well as the Web Credit Check we also offer an Online Trade Account Opening Credit Assessment Decision Making Tool as well as more detailed Express or Fully Comprehensive Business Credit Reports.


You can find the company web check tool by clicking the link:
Our Express or Fully Comprehensive Business or Company Credit Reports are available via multi product business services packages or on a pay as you go basis for £4.99 + vat. 

Pay as you go Business or Company Credit Decisions, Credit Checks & Credit Searches

Are you fed up of having to pay upfront for Business Credit Reports via a 12 month subscription package or a 12 month / annual credit checking contract?


If so then please feel free to try Pay As You Go Business Credit Checks or Company Credit Reports from CheckRate.

Pay as you go Business Credit Reports:

We offer Single Snap Shot Decisions - on a pay as you go basis, Abbreviated Company or Business Credit Reports - on a pay as you go basis and Fully Comprehensive Business or Company Credit Checks or Finanical / Credit Reports - on a pay as you go basis via our online Business Services Website.  

Packages of Business Credit Control & Web Marketing Services:  

In addition to the Pay as you go business credit reports or company credit checks on offer, we also offer a low cost 12 month subscription to a unique Trade Credit Account Opening Decision Making Tool which allows Account openers the ability to make quick and easy credit assessments or decisions, to help speed up and make more efficient your Account opening process.  This Credit Decision Making Tool can be purchased separately or as part of a package of Business Credit Control or Credit Management Services .  If you click on the link you can see the Packages that are available.


If you have any further questions please email: mike@checkrate.com

Business Services, Credit Control Services, Boost Web Sales Services: 

All our packages offer Business Credit Report and a Financial Trustmark as well as the Trade Account Opening Decision Making Tool.

Back to Pay as you go Company Credit Report Services:

If you want to stick to Pay as You go UK & Irish Company Reports or Business Credit Reports on a pay as you go basis you can do so by clicking on the Link and follow the process - Pay as you go Reports:

UK Company Insolvency Rates Fall Slightly in June

The number of U.K. companies becoming insolvent fell slightly in June, a report from one of the Worlds Largest Credit Reference Agency showed on Tuesday.

The report also showed that more than 1,000 companies still run out of money each month, whilst the UK still struggles to pull out of the double dip recession.

1,650 companies of all sizes fell into insolvency in June.  This was down from a figure of 1,841 in May and 1,783 for the month of June in 2011.

June's insolvency tally is equivalent to a loss of 0.08% of the entire U.K. company population. 

______________________________________________________

Are you protecting yourself against the losses that these insolvent companies potentially leave behind?

If you're not please email: mike@checkrate.com

What do you do if you have items in a shopping Cart or Basket but you are not sure whether you trust the website

Is this a feeling or experience that you have ever had (or are having right now)?

If it is you are in good company.

According to a Recent European Survey;

"69% of Online Shoppers in Europe have abandoned a shopping cart or failed to complete an online purchase because they didn't get a sense of security and trust"

and according to a US online Retail Shopping Survey carried out in 2009;

"21% of shoppers surveyed had abandoned a purchase when at the Shopping Cart stage due to fears over Trust & Security".

If you are in the UK or Ireland using a UK or Irish website shopping cart or basket and you find yourself in the same position here's what to do:

Look for Trustmarks on the website.  There are many Trustmarks for different purposes including Safe Shopping Trustmarks, Security Trustmarks and Financial Trustmarks. 


If you find some Trustmarks then this can go a long way towards helping you feel secure in your purchase.  Depending on whether you trust the brand or not, you might want to open up another browser page and research the Trustmark prior to making that purchase.


Another thing that you could do is checkout the Financial Ability and Stability of the Business Behind the website using the Free for Consumers, Business Search facility.


This facility allows you to check out for free if the business is established and is based in the UK or Ireland. 


If you are making a large purchase, especially one where the goods or service are provided in a substantial period of time, such as holidays, building work, conservatories, Things Manufactured bespoke to order, Wedding Venues and services etc., it could well be prudent of you to invest in a Full Business Credit Report to ensure you thoroughly know who the Business or Company that you are dealing with actually are.  


You can find this service at: Business Checks for Consumers