- What is a significant marker of the trustworthiness of an individual or a company?
- By what parameter can one assess a person’s solvency or insolvency?
- What is the best indicator of an unreliable counterparty?
Today we have an important update! We have add a new b2b email list data set that shows one of the most important markers of reliability – bankruptcy. Now on the SpectrumData platform you can quickly and with minimal input data get information on whether an individual, company or individual entrepreneur is bankrupt.
You understand how important this is in the era of COVID-19!
The financial situation of many companies and individuals has deteriorat significantly in 2020. Although the number of bankrupt legal entities has decreas in the first companies and sole proprietors quarters of 2020, this is not a reason for optimism. This figure was obtaine because the courts operate in a limit mode during the lockdown, and a moratorium on bankruptcy was in effect for many companies. Companies will face greater risks of bankruptcy after the moratorium is lift at the beginning of 2021 and after the consequences of the second wave of the pandemic become more obvious. As for individuals and individual entrepreneurs, the number of bankruptcies in 2020 increase by 65% compare to the same period in 2019. The extra-judicial bankruptcy procedure launch in September will also definitely speed up this process.
In such an unstable situation, bankruptcy checks (of both individuals and counterparties) should become mandatory practice in all companies without exception. Usually, counterparties, employees or borrowers are checked for bankruptcy through the companies and sole proprietors official website of the Unified Federal Register of Bankruptcy Information (UFRBI) or the Arbitration Case File. But those who search for information on official resources manually know that such checks take a lot of time. The new SpectrumData data set will help simplify and automate this process!
Why should businesses check people and organizations for bankruptcy?
Screening of candidates for management positions
Checking applicants for bankruptcy is a direct responsibility of companies, if we are talking about senior management positions. According to the law (Federal Law No. 127-FZ), individuals who have gone through the bankruptcy procedure cannot craigslist alternative in anchorage participate in the management of legal entities. A bankrupt cannot manage a bank for 10 years, an insurance company, investment fund or microfinance organization – 5 years, any other organization – 3 years.
Candidate checks
Bankruptcy is one of the most important indicators companies and sole proprietors of a person’s reliability. If a person is list as bankrupt, it means that he is not very capable or does not want to fulfill his obligations, does not know how to allocate resources and, perhaps, has a negligent attitude to work. This is the first sign that he should not be trust. It is unlikely that such a candidate should be hired for a position relat to financial management or involving a high degree of responsibility.
Checks of individual borrowers in banks and microfinance organizations
There is no law prohibiting issuing loans to bankrupts. An individual can take out a loan even a few days after being officially declared vietnam data bankrupt. However, in practice, this is certainly not the case. Bankruptcy for a bank is a clear “dark spot” on an individual’s credit history. Small and medium-sized financial institutions prefer not to deal companies and sole proprietors with bankrupt individuals until they improve their credit history. Large banks are also likely to refuse a large loan or mortgage. MFIs avoid bankrupt individuals altogether, refusing them even microloans.
Verification of directors of counterparty companies
This happens rarely, but if the director of the enterprise is bankrupt, it is worth thinking about starting or continuing cooperation. This means that the company violates the previously mention N 127-FZ.
Verification of legal entities: clients, contractors, partners
Before signing any contract with any new counterparty company, it should be check for bankruptcy to protect your business from unnecessary risks. A bankrupt company will not be able to fulfill its obligations under the contract due to high debt – and you will simply lose money. It is also worth checking old partners periodically: at any moment, a counterparty with whom you have work for many years may have problems, which will cause serious damage to your business.
Bankruptcy data is especially relevant for creditor companies (banks and other financial institutions) for checking borrowers in the b2b segment.
What industries will benefit from using:
In fact, everyone. Everyone has employees, management positions, contractors. A separate application case is checking for companies and sole proprietors borrowers’ bankruptcy, which will be useful for banks and microfinance organizations implementing loan programs for individuals and businesses.
What data will be requir at the entrance:
- For an individual – full name and passport number or TIN
- For companies and individual entrepreneurs – INN
We receive information about bankruptcies from an official source – the Unified Federal Register of Bankruptcy Information (UFRBI) and transfer it to you within a few minutes (depending on the selected method of receiving data.)
The new data set is available via API and in download format . We will also add it to the Personal Account soon.
Getting data on individual or corporate bankruptcies has never been easier: try connecting the new dataset now!
