D-U-N-S Number
The D-U-N-S Number (Data Universal Numbering System) is a unique business identification number issued by Dun & Bradstreet (D&B). This number is used to uniquely identify companies worldwide, and it plays a crucial role in assessing business creditworthiness and reliability in commercial transactions.
Features of the D-U-N-S Number
Unique Identification Number
Each company is assigned a unique number, ensuring there is no duplication and allowing for the precise identification of the specific company.
Global Use
The D-U-N-S Number is issued to companies worldwide, making it a reliable identification system for international transactions.
Provision of Business Credit Information
Based on the D-U-N-S Number, information about a company’s creditworthiness, financial status, and transaction history is provided.
Enhancing Transaction Reliability
The D-U-N-S Number helps determine the trustworthiness of business partners, improving the reliability of business transactions.
Uses of the D-U-N-S Number
Credit Checks for Business Partners
Before starting a new business relationship, companies can use the D-U-N-S Number to check the credit information of potential partners, thereby reducing risk.
Intercompany Transactions
The D-U-N-S Number is used to verify the reliability of business partners in transactions between companies.
Government Bids and Contracts
Government agencies may use the D-U-N-S Number to evaluate the reliability of companies participating in bids or contracts.
Credit Evaluation by Financial Institutions
Banks and financial institutions use the D-U-N-S Number as part of their credit evaluation process when considering loans to companies.
How to Obtain a D-U-N-S Number
Application
Companies must apply to Dun & Bradstreet and provide the necessary information to obtain a D-U-N-S Number.
Information Provision
Companies need to provide basic information, financial details, and transaction history.
Issuance
Dun & Bradstreet reviews the provided information and issues a D-U-N-S Number if the application is approved.
The D-U-N-S Number is vital for enhancing the credibility of businesses and ensuring reliable transactions. By utilizing this number in business dealings, particularly in international trade, companies can establish trustworthy business relationships.