A Trade Reference is the payment experience information provided by a supplier on its customer. Trade References can allow you to impact your D&B® business credit scores by reporting positive trade experiences (good payment history) you have with your partners, lenders, and suppliers that may otherwise go unreported. Trade References are comprised of seven base variables, which represent the creditworthiness of the suppliers’ customers. The variables are: reporting date or as-of date, manner of payment, rolling 12-month high credit (highest amount of credit used), current total amount owing, current total past due, selling terms, and date of last sale.
Some Trade References may not qualify for a variety of reasons, which may include the following:
- Some types of companies do not respond to Dun & Bradstreet’s requests for information within a reasonable time frame. Dun & Bradstreet will make six attempts to contact a company that has been selected to provide Trade Reference. However, a customer may resubmit references at any time, after which Dun & Bradstreet will make six more attempts.
- The company already reports payment experiences to Dun & Bradstreet.
- Dun & Bradstreet maintains policies related to eligibility requirements for a company to qualify a reference.
The following kinds of Trade References are amongst those that are not accepted by Dun & Bradstreet:
- Payments that have not yet been made but are anticipated
- Payments to businesses that have shared principals or some other type of legal ownership relationship
- Financial services: banks, credit unions, and insurance
- Bank references
- Utilities and gas companies
- Credit card companies
- Virtual offices
- Credit counseling or registered agents
- International companies
- Businesses with an unknown SIC