Credit checks on up start grain trading companies?

[Pilatus]

What is the most reliable way/source of doing credit checks on companies as above?

 

[Exfarmer]

The problem with all these companies, is how quickly they can go wrong.
Any commodities trader should always offset deals and rely on margin to make their money.
However it means they need to work hard and make large numbers of trades to make any reaal money.
But there is a get rich quick way , by gambling on the market and this id the downfall of so many. If the market turns the wrong way the business can go broke so very fast.
a good sound business can be bought down sometimes in weeks, meaning credit checks only months old can mean nothing.
i was lucky in my time, four trusted companies who I regularly sold to, two of which employed close friends, have gone under, for this reason. Luckily I was only caught by one, but it hurt!

 

[Johnnyboxer]

What is the most reliable way/source of doing credit checks on companies as above?

Companies House?

 

[B'o'B]

Wellgrain was being given a good credit rating days after it had been put into administration.

 

[hel123]

Directors guarantee?

 

[yellow belly]

Don’t trade the principle

 

[Courier]

Companies House?

Unfortunately Companies House only reflects historic problems - By the time difficulties show up there it is probably already too late.

 

[Brisel]

Companies House?

That's the cheapest but not the most up to date.

 

[Courier]

Offer to sell to them at a £1 per tonne discount for payment before the load leaves your yard - The answer will tell you how liquid they are !!