How to Build a Duns Credit File
Dun & Bradstreet (D&B) is the recognized leader in business-to-business credit reports. For any business it can be vitally important to have their Dun & Bradstreet report in good order if the company wishes to secure the best terms from suppliers or even access to credit at all.
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Things You'll Need
- List of current suppliers
- Dun & Bradstreet website
- Dun & Bradstreet contact information
Instructions
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1
Go to the Dun & Bradstreet website and click on the "Get Started, Get a D-U-N-S Number" tab.
Your company may already have a D&B report if you have been in business for even a little while.
Some companies report on all their customers every month to D&B meaning that one or more of your suppliers has already made D&B assign you a D-U-N-S Number.
A D-U-N-S number is best understood like your company's Social Security number in the D&B system. All your business information is sorted to this number from various sources.
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2
Type in your business name, city and state in the boxes provided, then hit "Next."
The D&B system will search to see if there is a number already assigned for your company.
It might also show that D&B has more than one report on your company.
One or more of your suppliers might know you as another business name or at another address. Their mistake could leave you with several reports. You will want to consolidate these and also tell your suppliers to correct their information.
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3
Review the information that D&B allows you to view if you have a D-U-N-S number and credit file(s).
D&B may have some financial information that is incorrect. Your sales may be their best guesstimate or a few years out of date.
You are able to correct that information in their system and D&B will review it and then upload it to the report.
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Make a list of creditors--those who like you--who do not appear appear in the D&B report.
You can send the information to D&B and it will make every effort confirm it and add it to the report.
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5
Review your D&B file in a month to see if your new information is updated and if you have an improved rating in their system.
If your situation has improved, then do not hesitate to contact D&B and update the information again.
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Tips & Warnings
Keep a D&B file for updated information and include your D-U-N-S number on company letterhead, invoices and purchase orders to speed processing.
The D-U-N-S number will be seen by many companies to be a sign of stability in your business.
This article is for the legitimate business purpose credit review. It is not for any other purpose
