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Credinet

CredinetTM Advantage

We call our Internet offering CredinetTM Advantage. It's an appropriate name when you consider the advantages you receive as a subscriber. With all of the other services now available on our site, the Internet just became a better place for our customers. For credit group members who want to identify problem accounts earlier, CredinetTM Group Alert is the solution. If you need fast, accurate and up-to-date trade reference information, CredinetTM Group Exchange delivers it! For a better description of the services available using CredinetTM, please read on...

CredinetTM Group Services

CredinetTM Group Alert - Using this feature, credit group members can quickly and easily receive broadcast alerts from other group members. When any group member reports a problem (returned cheque, collection, mechanics lien, etc.) using CredinetTM, every CredinetTM Group member receives the alert on a real-time basis. CredinetTM Group Alert instantly broadcasts a group e-mail notification of any item reported by other group members!

CredinetTM Group Exchange - Our specially developed Internet based program enables our group subscribers to exchange critical trade reference information with ease. CredinetTM Group Exchange gathers and collates the data in a consolidated trade report, eliminating the work associated with other exchange programs. Any group member that replies to a Group Trade Request is given access to the consolidated credit report on that subject. We call it a Free Reciprocal Report. It's our way of saying thanks!

CredinetTM Account Monitoring - Monthly, the CredinetTM server reviews each of the accounts on which you reported involvement and submitted trade experience (excluding "None", or No Account responses) and scores 3 aspects of the consolidated report:

  • Supplier Confidence - As reported in the supplier comments, identifies the lack of supplier confidence expressed in the report.
  • Negative Occurrences - As reported in the supplier comments, identifies the degree of negative activity expressed in the report.
  • Aging Info - The aggregate of all participant trade lines is examined and particular emphasis is given to the percent of payables in Period 2 and Period 3 Past Due. The system examines the overall delinquency and scores that component. An asterisk next to the Total Score will identify any mention of "holdback" or "dispute".

The results are tabulated and a new Monitoring Summary Report is sent on the 5th of each month to all participants. The report ranks the degree of overall risk that is inherent in your customers' reports. Members can sign on and view each report in their list in a new section called My Monitoring. A company-wide risk report is available for system administrators, or managers.

CredinetTM is a registered trademark of Credifax Atlantic Limited. Credifax Ontario Limited is an authorized distributor.

Sample CredinetTM Report (Adobe PDF File) Terms of Use (Adobe PDF File)