Coface is implementing a Transparency Charter to improve dialogue and maintain confidence between companies throughout the world. This Charter is available to the 130,000 Coface clients and millions of these companies’ own customers. By registering, they will access their Coface rating and its evolution, free of charge; and they will be able to confidentially correct or complete Coface’s information on their company.
Inter-company credit is essential for economies to function properly
Companies are the biggest bankers for their client companies: in certain countries, of every AED5 of short-term credit granted to companies, AED 1 comes from banks and AED 4 from suppliers. All suppliers need to decide who they grant credit to (and how much) and who they ask for cash payment. They can either decide this alone or with help from a partner, such as a business information provider, a credit insurer or a financing company.
Coface partners with companies in managing their inter-company credit efficiently in 65 countries
Every day, 130,000 companies call on Coface’s expertise in our four business lines (Trade Receivables Protection, Trade Receivables Finance, Rating and Business Information, Trade Receivables Management) for the purposes of managing their inter-company credit. This may involve accessing a Coface rating ("what is the probability of the company honoring its payment commitments?") or a Coface credit opinion ("based on the information available, what is a reasonable amount of credit to extend?").
Coface is well aware of its responsibilities for maintaining confidence between all trading companies. To this end, we have implemented a Transparency Charter that is open to all companies worldwide, whether they work with Coface or with a Coface client. In so doing, Coface is helping all companies to manage a vital asset : an image of financial solidity.
Companies wishing to benefit from the Charter should send a message to
infomiddleeast@coface.com
