How often have you been left frustrated by late payments? Wouldn’t it be great if you’d have known in advance and been financially prepared? Would you even trade with a prospect that you already know doesn’t adhere to agreed payment terms?
Cedar Rose – who have been providing credit reports on MENA companies for 21 years – is introducing the Trade Rate scheme, so business owners and credit managers can anonymously share their collective voice.
In the business world, time is of the essence, but Cedar Rose believes that allowing companies to rate their customers’ payment performance is both fundamental and lacking within the credit sector. We are delighted to announce the release of our newest innovative service – Cedar Rose Trade Rate. With this introduction, we invite anyone who finds their customer listed on our website to rate their payment experience at any time. Through our new easy-to-use online rating tool at www.cedar-rose.com you can now create informed ratings in less than two minutes with the greater benefit of providing reliable data for others to access.
This initiative aims to provide a more efficient and robust credit reporting service. Cedar Rose will use this information to help others make the safest decision possible. Once verified and approved by our team of analysts, average ratings will be displayed anonymously in our company credit reports for anyone to purchase online. By joining forces, business people around the world can help each other to make better informed choices about whether or not to extend credit and on which terms.
Using a simple star scoring system you rate your customer from 1 to 5 stars depending on whether their invoices were paid on time:
You can decide whether or not to add more details and a comment in the Advanced Rating form, choosing to remain anonymous if preferred.
This new and innovative scheme provides an extra level of security when conducting business. Cedar Rose hopes to stamp out the late payment culture and, at the same time, increase the amount of information available in order for businesses to make robust and informed judgements.
Stay tuned in to our newsroom for follow up articles on the latest initiatives, brought to you by Cedar Rose.
Written by Christina Massaad, Managing Director
*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***