Sources of Credit Reports
|Unit 3.1- Sources of Credit Reports|
Unit 3.1- Sources of Credit Reports
This unit describes the purpose and components of credit reports. There are different perspectives when it comes to credit reports: from an individual, from a seller--business/ commercial-- or from a financial institution such as a bank.
The focus here is on the seller’s perspective. Assume that a person or persons within a business are responsible for assessing whether a buyer ( an individual, another business) has a credit history that demonstrates whether this party or parties can and will make payments accordingly . The credit report is obtained from a source outside the seller’s business. This type of information is contained in external credit reports.
The persons who request credit reports and analyze them have many titles--for example, analyst, credit manager, international credit manager. To keep things simple, assume that this person is an international credit manager (ICM).
In order to convey the purpose of a credit report, the following topics are presented:
- the definition of a credit report and its components
- purposes of a credit report
- influences on a credit report.
- Credit Report Components
- Purpose of a Credit Report
- Direct Sources of Credit Information
- Other Sources of Direct Investigation
- Indirect Sources of Credit Information
Correlation: Materials from this unit correlate with NASBITE CGCP's Knowledge Statement 04/03/01: Knowldege of sources of credit reports (e.g. credit bureau, D&B, Hoovers, US Department of Commerce, International Company Profile)