The commercial credit report is a credit file that reflects the credit status of an enterprise. It is a basic product that records the basic information, credit account information and other credit related information of an enterprise, and shows a comprehensive, accurate and updated picture of its credit status. It can be regarded as an “economic ID card” of an enterprise.
A commercial credit report mainly consists of four sections: basic information, credit information, public records and the statements sections.
The basic information section lists an enterprise’s identification information, major investors and members of its senior management, etc.
The credit information section shows an enterprise’s loan information and repayment history. This section is therefore, the core of the report.
The public records section contains the relevant financial information about an enterprise obtained from the public administration authorities, including information on tax arrears, administrative penalties, civil judgments and enforcements from courts.
The statements section contains statements from data reporters, remarks from the CCRC, as well as statements of the data subject on disputed items, if any.
A commercial credit report is mainly used by banks for the purposes of credit acquisition and credit management. It can also be used by government authorities as a reference in the appraisal of enterprises, in the procurement process, or for business audits and investigations. Banks and government departments may, with the consent of the enterprise, access an enterprise’s credit report.
When an enterprise believes that its credit report contains any incorrect or incomplete information, it may contact the CCRC or the banks or other institutions that have submitted the information to request for a correction.
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