A1. All about the credit limit: identification

Step by step to the right credit limit.

Before diving into this chapter, it might be useful to watch this video. In it, Liesbet clearly explains how best to deal with credit limits.

We recommend that when you sign your policy, you identify all debtors with whom you have a commercial relationship and with whom you will consequently work, and then apply for a credit limit on them.

1. Identification

1.1. Who are you doing business with?
A first order in? First check whether the debtor exists based on correspondence from the company:

• A mail/letter with header;
• an order form containing at least the following information:
  • the name of the company;
  • the legal form;
  • the VAT number or a similar unique identification number

The unique identification number offers you the most security. For Belgium this is the VAT number, for Luxembourg the Trade and Company Register number (RCS) and for the Netherlands the Chamber of Commerce number (KVK). In our tool 'Identification numbers' you will find per country which unique number you can use to find the debtor in Atrium. Ask your debtor for the number you need from the start. This ensures correct identification and avoids misunderstandings afterwards.

It is possible to identify the debtor by name.

• For a company:
  Record your debtor's full name and preferably full address. Abbreviations or incomplete data are insufficient for correct identification.
• For a natural person:
  Record the name and first name of the holder.

1.2. Why is this so important?
The operation of the policy hinges on a credit limit on the correct debtor. A limit application on the correct debtor remains your responsibility. Our Customer Service Centre is ready to help you find the correct debtor. A claim file on an identity other than that on which you have invoiced is not covered by the policy.

Identity and other forms of fraud are increasingly common.