Last year, Coface launched @rating, the world's first internet-based trade credit rating service. @rating has three key features:
Firstly, it enables any business trading over the internet to evaluate quickly and accurately the creditworthiness of a potential new customer, trading partner or supplier, at the click of a mouse.
Secondly, companies can supply additional financial and trading information to Coface to enable them to acquire an @rating quality label. This label can be highlighted on the company's own stationery and web-site and demonstrates to potential customers or trading partners its creditworthiness, thus endorsing it as a reliable trading partner.
Thirdly, any company can protect itself against non-payment where the buyer has an @rating quality label.
@rating was awarded "Best Site for Export Credit" by Euromoney magazine in November 2000 and Coface LBF is now building on this success by entering into a series of MoU's (Memoranda of Understanding) with banks, B2B service providers, VMP's (Virtual Market Places) and other institutions.
These MoU's will be announced throughout 2001 and mark the next stage in making @rating available to a wide array of businesses, all of which are in the process of building and developing their B2B offer on the web.