Monday, March 06, 2006

What a D&B Number is and why you should apply for one now.

A D&B number is a Dunn and Braddstreet number, and man can they come in handy. A lot of business demand that you have a D&B number for them to extend any sort of trade credit to you, or sometimes even just to do business with you. Even if they don't require it a lot of places have it as an optional field on most trade credit applications.

Dunn and Braddstreet are kind of like a credit reporting agency, except for business.

Even if you don't think you are going to need a D&B number, you should get one now rather than later as their express service costs money, however there regular service (takes about one month) is free of charge. Also, you can use the time to establish good trade credit record, to help you negotiate favorable credit terms with new suppliers.

If you are in Canada you can register for your D&B number here. For Americans, you should be able to register here. For everyone else, they should be able to re-direct to the appropriate site/group.

3 comments:

Peter McCurdy said...

To help you further your goal of improving your writing, I should point out:

"there": A place, as in "the widget is over there"
"their": Belonging to someone, as in "their express service is expensive".
"they're": Contraction of "they are", as in "they're expensive when you have to use their express service."

holden said...

Thanks :-)

Antony said...

Here it is 2011 and it would be unusual to find any business that requires the use of a D&B number as a condition of extending credit.

For many years D&B has been the most widely known business credit reporting agency, but with a cost of $100 to run what D&B calls a "BIR" or Business Industry Report they lost a lot of ground in the industry.

Banks, suppliers, and business of all size have been using a report called the NACM report which can only be established by using companies that report your business payment habits and by you paying your bills promptly. For a sample report you can look at http://www.sacm.us.com/business-credit-reports

I didn't run the spell check, hope Peter is still monitoring the site and can do that for me.

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