Documents Verification

Document verification for manufacturers, suppliers, wholesalers dealers or traders

Before entering into any business deal, each of the business participants i.e., the manufacturers, wholesalers, dealers or traders need to first submit a list of documents to be verified so as to prevent any kind of risk and fraudulent activities during the trade process. It is even recommended that all necessary legal, financial as well as police records (if any) to be verified so as to increase more business prospects and growth of the trade for the future.

Document verification by manufacturers, suppliers, wholesalers and dealers

It is very common for manufacturers, wholesalers, suppliers, dealers or traders to seek documents from their buyers as to state whether the person to whom they are selling or buying goods are genuinely true. Nobody would like to enter into a scam and see their money later getting sucked into a big vicious cycle of fraudulent trade activities. Thus it is recommended that every business must get their customer’s documents verified.

What documents required for verification?

In any business deal the very specific documents that are asked for verification are (depending on trade location and the kind of trade or business is taking place between the manufacturers, wholesalers, traders or dealers):

  1. Incorporation Certificate
  2. Personal ID & Address Proof such as Aadhar card, PAN, Voter Id Card, Driving license etc that is proper Identification document of the manufacturers, wholesalers, suppliers, dealers or traders
  3. GSTIN
  4. Reseller’s permit license
  5. Bank Statements

The above mentioned documents might overwhelm one, but worry not. Paperwork do seem tiresome and sometimes tardy looking at the length and size of the business deal and between whom and where the business agreement is being conducted, yet ITCIB is a highly recommended and proven system which provides the best of the legal and financial professionals who can assist traders with the best business option and legal formalities as well as help traders with the complete document verification without putting trade module or trading system into any risk.

Why are documents needed for verification?

This is the very basic question asked by any of the manufacturer, suppliers, wholesaler or dealer as each one of them are entering into a business agreement with a motive to achieve financial growth and more business prospects without harming the business. There is always a possibility of risks involved in business or may be any mishap that might put the trading entity into financial turmoil in the future. To lower the risk factor and be sure with whom the business agreement has been made is true and the right traders, dealers etc. a variety of documents need to be verified so to be on the safer side. So the main reasons why business documents need to be verified are as follows:-

  1. As Proof of identification
  2. To make sure each of the business agent that is the manufacturers, wholesalers, dealers or traders serious about the business agreement
  3. To process orders faster
  4. To be quick in fast payments
  5. To be sure the business agent is not debt ridden
  6. Good trade credit report (TCR)
  7. Better prospects for future business

Many a times due to poor legal and financial knowledge many manufacturers, wholesalers, suppliers, dealers, or traders enter into a business agreement which later turns out to be a fraud putting their business into a heavy risk. It is thus very important that one understand the role of each document and its requirements in the entire Trade process properly. Our pool of professional legal as well as financial consultants endeavor to give you the best business consultation as well as do the entire document verification through legal procedure for business growth. It is through ITCIB we try to bring the traders in contact with valued customers or trade parties and protect them from frauds with utmost legalities and through proper trusted trade channel.