A Trade Reference is a source that supplies commercial payment information to Dun & Bradstreet. A “Payment Experience,” or “Trade Experience,” is a record of such payment information that Dun & Bradstreet receives from a Trade Reference on its business customer. Payment Experiences can positively or negatively impact a company’s D&B® business credit scores. Some Trade References automatically provide commercial payment information to Dun & Bradstreet. Customers can also manually submit Trade References to Dun & Bradstreet for its verification and acceptance through the CreditBuilder™ product. Manually adding Trade References, such as partners, lenders, and suppliers, with which you have positive trade experiences (good payment history), could positively impact your D&B scores and ratings. However, if you make or have made late or slow payments to Trade References, such Payment Experiences can negatively impact your scores and ratings.
Trade Experiences comprise seven base variables, which represent the creditworthiness of a business. The variables are: reporting date or as-of date, manner of payment, rolling 12-month high credit (highest amount of credit used), current total amount owing, current total past due, selling terms, and date of last sale.
Some Trade References may not be successfully submitted through the CreditBuilder product for a variety of reasons, which may include the following:
- Some types of companies do not respond to Dun & Bradstreet’s requests for information within a reasonable time frame or at all. Dun & Bradstreet will make six attempts to contact a company that has been selected to provide Trade Experiences. However, a customer may resubmit references at any time, after which Dun & Bradstreet will make six more attempts.
- The company already automatically reports payment information to Dun & Bradstreet.
- The company appears to be untrustworthy.
- Dun & Bradstreet does not have enough information about the company in its database to verify its legitimacy or other factors.
The following kinds of Trade References are amongst those that cannot be manually submitted through the CreditBuilder™ product:
- Financial services: banks, credit unions, and insurance
- Utilities and gas companies used for non-commercial purposes
- Credit card companies
- Virtual offices
- Credit counseling or registered agents
- International companies
- Businesses with an unknown SIC
Trade References that can be manually submitted through CreditBuilder for Dun & Bradstreet’s verification and acceptance can include:
- Car/Equipment leasing
- Cleaning service
- Computer services or repair
- Construction/Remodeling company
- Direct mail service
- Freight/Trucking/Local delivery services
- Furniture purchase/Rental
- Graphic design: business card, logo, stationary
- Marketing company
- PO Box rental (NOT US Postal Service)
- Payroll services
- Printing services
- Property Company that you lease land or office space from
- Television, radio, print, internet advertising
- Uniform supplier
- Warehouse rental
While the above Trade References can be submitted through the CreditBuilder product, they may not be accepted for various reasons which can include reasons listed above. If a Trade References is accepted, the payment information it provides Dun & Bradstreet can include past payment experiences it has with you up to 2 years prior, which can include prompt, slow, or late payments.