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  #1  
Old 02-20-2021
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Default What is a trade reference, and how do i find it?

This may be a silly question to some, but I'm applying for an account with a company, and I'm stomped on the part where it's asking for "trade reference". I do not know what to fill in on that box. What exactly does that mean? I tried googling, but not getting any clear information.
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Old 02-20-2021
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Default Re: What is a trade reference, and how do i find it?

What I found on google:

"A Trade Reference is a source that supplies past payment experience(s) between a business and a vendor.

Trade references allow business-to-business lenders to complete a credit check on your business before deciding whether to extend you credit. They should come from someone you have done business with before and confirm that you pay your debts in full and on time.

If you are trying to open a trade account with a new supplier you may be asked to provide at least two-three trade references.

You may need to provide a contact name and phone number for each reference and they will then be asked questions such as, how long the account has been open, its credit limit and if there have ever been instances of late payment."
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Old 02-20-2021
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Default Re: What is a trade reference, and how do i find it?

It sounds like they want to know some of your past/previous companies that you've purchased or sold goods/items from to supply your business or whatever it is your doing.
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Old 02-20-2021
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Default Re: What is a trade reference, and how do i find it?

Usually it is the other companies in the industry you currently are doing business with. They want to know you pay on time, dont abuse returns, customer service, dont break MAP pricing etc... Pretty much that you are legit business.
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