Vendor Due Diligence / KYC

Vendor Due Diligence / KYC

Companies should be aware while conducting business with different vendors as well as venturing into partnerships & especially offering credit to business Clients. Due Diligence helps in providing accurate information about companies & partners which helps in avoiding loss of capital & bad debts including other legal matters. 

Quality and credibility of vendor or customer is assured when due diligence job is entrusted to Proquest

The scope of due diligence for vendor / partner / customer is vast and includes qualitative and quantitative factors:

  • Verification of business, company or organization existence as well as the reputation of the business in the market place
  • Establishing Legal and statutory compliance of a vendor and so checks on misappropriation of funds, money laundering, siphoning of funds
  • Labour and environmental related issues checks
  • Qualitative management report analyses the credit history/defaults of vendors

“Do you know that many fraudulent profiles go unnoticed when existing employees are unverified or when companies don’t check the backgrounds at regular intervals Morgan King “