When looking for suppliers for an online store or marketplace, guinea business email list it is important to carefully select potential counterparties. Cooperation with an unverified company can result in big problems, including with government agencies. We have prepared instructions on how a seller How to check a supplier can check a supplier for integrity so as not to lose money and not incur sanctions from the tax service. 

Why check counterparties and what risks may arise

Working with an unreliable partner can result in financial and reputational losses in the future. Such a supplier may disappear with the money or significantly delay the deliveryHow to check a supplier dates, which, given a large flow of orders on the marketplace, can lead to disrupted sales and fines. 

Reliability and integrity of partners are also important for reputation. In the future, some counterparties may refuse to work with you if they see that you have collaborated with dishonest companies. 

Finally, cooperation with an unreliable supplier can increased quality & price sensitivity cause problems with the tax authorities for the seller: the Federal Tax Service may consider that the entrepreneur did not exercise due diligence when choosing a counterparty that is unable to fulfill the contract. This can lead to additional taxes, fines, and loss of the right to deduct VAT. 

What documents should be requested from a supplier or counterparty to check for integrity How to check a supplier

For legal entities, the constituent documents should be checked. They confirm the fact of registration of the legal entity and provide basic information about the founders, CEO and representatives: 

• Charter. 
• Certificate of tax registration (TIN). 
• Certificate of assignment of OGRN.
• Order on the appointment of the CEO.
• A power of attorney for the representative with  hong kong phone number whom you plan to sign the contract (if this is not a person who can act without a power of attorney). It must be notarized and have a validity period.
• Passport of the CEO or representatives (do not forget to obtain written consent to the processing of personal data).