Browse our Frequently Asked Questions for quick and detailed answers to common queries.
FAQs
Frequently Asked Questions
Business credit is an overall reflection of a company’s ability and willingness to pay its debt. Knowing their credit standing will help you in making an informed decision. Credit risks are produced when the creditor gives credit incorrectly or the debtor refuses to pay back.
A credit investigation will help reduce the investment risk and fraud in business activities. It can also function as an important reference before making a deal with a first-time customer or a business partner.
There are many things you can do to ensure you hire quality employees and an effective way is to conduct background checks.
Conducting pre-employment verification especially if the job description will have access to sensitive financial or customer information is essential to your business operations. These checks can be an indicator not only of the individual’s aptitude but also provide valuable insight into the individual’s behavior, character, and integrity.
The length of time for an employment check can vary. Simple verifications of identity, education, and work history could take anywhere between a few days to a week. On the other hand, more comprehensive checks, involving criminal records and financial history, could take anywhere between one to four weeks. Some checks may take longer if there’s a need for additional documents or information.
The accuracy of a credit investigation largely depends on the sources of information used. Reliable credit investigations use data from reputable sources including courts, credit reporting agencies, and financial institutions ensuring high accuracy. However, it’s important to remember that while these reports provide crucial information, they should be used as a tool in conjunction with other risk management strategies.