What does Credit Information Bureau do?
Credit Information Bureau is a company which holds a licence issued by the Data State Inspectorate for services related to storage of credit histories of private individuals and companies, data processing, preparation of credit reports, calculation of credit rating and credit standing, monitoring of private individuals and companies. Crediting companies can find out credit histories of private individuals in order to be able to carry their decisions regarding granting loans. The credit bureau offers preparation of reports to companies on their current or potential business partners.
What is a credit report?
Legal entities may acquire credit reports from the credit bureau, which is a report on the financial results, credit standing, and the overall business operations of business partners. A credit report provides information which is necessary for strengthening trust, successful cooperation, and monitoring of the business of the cooperation partner.
What is company monitoring?
Monitoring is one of the most convenient credit portfolio risk management solutions, as it provides notifications (data summaries) on changes in the credit information of cooperation partners as well as all changes available for the cooperation partner in the Registry of Enterprises.
How often is the information updated in the database of the credit bureau?
Pursuant to the Law on Credit Bureaus, the data provider shall update the information at least once every quarter. Data updates depend on the business sector the data provider operates in. For example, most of the non-bank creditors update their information daily, whereas the banks do not update the data for their clients more often than once monthly.
For how long are data about insolvency proceedings or bankruptcy stored in the system?
The data are stored in the system for just as long as they are available in the Registry of Enterprises. This applies to legal entities and private individuals.
How can a company become a client of the credit bureau and a system user?
The interested parties shall contact the Credit Information Bureau and sign a system usage agreement. For contact details, please refer to CONTACTS.
What is the system subscription fee?
The system subscription fee depends on the frequency of use and the products you you wish to subscribe for. For a price quote, please contact the experts of the Credit Information Bureau using the contact details provided in CONTACTS.
