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What is a "trade reference"?
starlygirl




msg:650772
 1:17 am on Apr 12, 2005 (gmt 0)

I'm filling out a merchant account application and it asks for trade references? What does that mean exactly?

~Stacy

 

Mardi_Gras




msg:650773
 1:27 am on Apr 12, 2005 (gmt 0)

It means other businesses that you have credit or do business with.

EstoreSeeker




msg:650774
 5:36 pm on Apr 13, 2005 (gmt 0)

Here are some more descriptions of 'trade reference' which you might find useful:

#...A trade reference is a business that extends credit or otherwise has a business relationship with the applicant.

#...Trade references are numismatic companies with whom you do business. Companies look for references, who can attest to an applicant's reliability and business ethics.

#...Trade references are used as a type of credit report to say. You would give them the name of other companies you currently do open business with as a source for them to verify your legit and not a scam artist to say. It also helps if you have good trade references as to the line of credit they will let you carry. This would allow you to send a P.O. to them for the items you are ordering and send payment within the time allotted by them. The trade references act as a credit rating so to speak.

[edited by: Brett_Tabke at 12:28 am (utc) on April 14, 2005]
[edit reason] please no urls. [/edit]

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