Publication date: 08.05.2024
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The term "counterparty" is used to refer to a person or entity with whom you enter into a business relationship or agreement. Counterparty can be your customer, supplier, partner or any other party with whom you have or plan to have a commercial relationship. In the context of business and transactions, a counterparty usually means a party with whom you enter into agreements, sign contracts, or transact business.
Verification of a counterparty in Ukraine may include several stages. Here are some of them:
1. Company registration: Checking whether the company is registered in accordance with the legislation of Ukraine. This can be done through the official register of enterprises and organizations of Ukraine.
2. Financial status: Assessment of the company's financial status. This information can be obtained through the submission of financial statements to statistical authorities, as well as some commercial databases.
3. Payment history: Checking the company's payment history using bank statements or services that provide information about payment discipline.
4. Lawsuits and Debts: Check if there are any lawsuits or debts owed to other companies through the databases of judicial institutions.
5. Reputation: Research the company's reputation, including online reviews, ratings and recommendations from other business partners.
6. Tax information: Checking the tax history and status of the taxpayer through the relevant authorities.
These are just some of the methods that can be used to check counterparties in Ukraine. It is important to collect information from various sources and analyze it in order to make an informed decision about cooperation with a particular company.Checking the counterparty by the EDRPOU code can be useful and important before concluding any contracts or entering into a business relationship. This allows you to verify the legitimacy and legality of the potential partner's activities and reduces the risks of misunderstandings or problems in the future.
A check by the EDRPOU code can provide information about the following aspects of the counterparty:
1. Registration status: Whether the company is registered and whether its registration is active.
2. Full company name: Including legal address and other contact details.
3. Owners and managers: Information about persons who control or manage the company.
4. Financial indicators: Basic financial indicators, such as turnover, assets and liabilities.
5. History of changes: Information about the history of registration changes, such as name, address, ownership, etc.
This review can help you make a more informed decision about working with a particular counterparty and reduce risks for your business.
Verification of the validity of the certificate of the payer of value added tax (VAT) is an important component of the verification of counterparties in Ukraine, especially when concluding agreements or cooperation with enterprises.
There are several ways to check the validity of the VAT certificate:
1. Online verification on the website of the State Tax Service of Ukraine (SPT): The SPT provides the possibility to check the validity of the VAT certificate through an online service on their website. You can enter your VAT certificate number and get information about its status and validity.
2.Contact with the State Tax Service: If you cannot use the online service, you can contact the DPS branch at the counterparty's place of registration directly and request information about the status of the VAT certificate.
3. Referral to legal advisors or tax consulting specialists, counterparty verification services: If you have doubts or need additional verification, you can contact legal experts or tax advisors who have experience in this area.
Checking the validity of the VAT certificate helps to confirm the legitimacy and regularity of the payment of taxes by the counterparty and reduces risks for your business.
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