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Previously on "Credit Checks on Contractors"

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  • Svalbaard
    replied
    I'm currently at a global insurance company and I was credit reference checked and I thought this quite reasonable considering the area I am delivering projects for.

    Leave a comment:


  • Liability
    replied
    Originally posted by Spike Lee View Post
    Dear All

    Is there any legality for a Client to make complete credit checks against a contractor including the abmount of credit you owe.

    From what I have received there is an ultimatum either you complete it or you have to leave .

    Regards

    JF
    Yep - my current one did a Credit Check, BV? Check as well.

    Leave a comment:


  • EternalOptimist
    replied
    is there any legality in it ? - yes

    Leave a comment:


  • HairyArsedBloke
    replied
    Originally posted by Sysman View Post
    And who dipped their fingers in the till in the first place?
    The Snot Goblin

    Leave a comment:


  • Sysman
    replied
    Originally posted by cojak View Post
    I know that Finance gigs sometimes ask for it - it's to check that you won't be tempted/blackmailed to dip your fingers into the till...
    There's a potentially very serious problem lurking here.
    1. Bank / Madoff / Iceland goes bust
    2. Your savings get frozen or are lost forever
    3. Due to the downturn there isn't any work
    4. Your credit record gets a hammering
    5. No chance of a job (due to d.) to repay your debts


    And who dipped their fingers in the till in the first place?

    Leave a comment:


  • dinker
    replied
    Originally posted by Jubber View Post
    Banks will usually do this when you join /start a contract - from your post it seems that you are half way through one? What is the reason for the check? Sounds odd half way through a gig.
    Someone`s grassed you up.

    Leave a comment:


  • Paddy
    replied
    I told well know agent that I would run a credit check on his agency after he said he wanted to pay me monthy. His reactioin was

    Leave a comment:


  • Jubber
    replied
    Originally posted by Spike Lee View Post
    Dear All

    Is there any legality for a Client to make complete credit checks against a contractor including the abmount of credit you owe.

    From what I have received there is an ultimatum either you complete it or you have to leave .

    Regards

    JF
    Banks will usually do this when you join /start a contract - from your post it seems that you are half way through one? What is the reason for the check? Sounds odd half way through a gig.

    Leave a comment:


  • pmeswani
    replied
    Originally posted by Spike Lee View Post
    Dear All

    Is there any legality for a Client to make complete credit checks against a contractor including the abmount of credit you owe.

    From what I have received there is an ultimatum either you complete it or you have to leave .

    Regards

    JF
    I start credit checking agencies. I would expect no less in return. If you have something to hide, then don't work in an industry that requires a credit check.

    Leave a comment:


  • Mich the Tester
    replied
    Originally posted by threaded View Post
    Makes me laugh softly when I see that happening.
    I made about 400,130,000 euros more profit than ClientCo last year.

    Leave a comment:


  • threaded
    replied
    Originally posted by Mich the Tester View Post
    I know. My credit rating's better than theirs.
    Makes me laugh softly when I see that happening.

    Leave a comment:


  • Mich the Tester
    replied
    Originally posted by realityhack View Post
    It's standard policy for financial institutions to run a full credit check
    I know. My credit rating's better than theirs.

    Leave a comment:


  • realityhack
    replied
    It's standard policy for financial institutions to run a full credit check on potential contractorcos and permies.

    Leave a comment:


  • Durbs
    replied
    Its a valid request. Companies credit check other companies all the time before dealing with them and you are effectively just a Co.

    Leave a comment:


  • Mich the Tester
    replied
    Originally posted by robbie274 View Post
    Yeah I got credit checked when my client was a bank, seems normal.
    It might be wise to do a credit check on ClientCo and agent, especially if you’re working at a bank.

    Leave a comment:

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