Ukrainian exporters should check foreign buyers before granting deferred payment — Dun & Bradstreet
The expansion of Ukrainian companies into foreign markets increases the importance of conducting preliminary checks on potential buyers and distributors.
Ukrainian businesses expanding into foreign markets must be cautious when granting deferred payment terms to new buyers and distributors, according to Dun & Bradstreet analysts. These risks are heightened when partnering with a company for the first time and requesting a significant delay in payment. To mitigate these risks, Dun & Bradstreet recommends utilizing their international business information databases, which allow for the identification of companies, verification of registration data, ownership structures, financial indicators, and operating histories.
Maksym Urakin, Director of Development and Marketing at Interfax-Ukraine and Head of the D&B-Interfax-Ukraine business unit, emphasizes the importance of conducting thorough checks before signing contracts with new partners. Depending on the country and available information, a D&B business report can provide crucial details such as executives' names, financial statements, credit ratings, and other risk assessment indicators.
While negative information about a potential partner does not automatically lead to rejecting the transaction, it may prompt negotiating more favorable terms, such as increasing prepayment, reducing the size of the first shipment, or employing a bank guarantee or trade credit insurance. Dun & Bradstreet, an international provider of business data and analytical solutions, has been serving businesses since 1841 and offers tools for business identification, counterparty verification, risk assessment, and compliance.
In Ukraine, Dun & Bradstreet's specialized unit, D&B-Interfax-Ukraine, assists Ukrainian companies in working with international business data and obtaining a D-U-N-S Number.
Written by urgent.news from Interfax-Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
