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If you have a company that operates across borders, registering a DUNS number should be a priority
Global supply chains are complex and constantly changing, and the need for public transparency is higher than ever, especially in the global food, pharmaceutical, and medical device industries.
DUNS number is the key for businesses. It helps build credibility, enhance transparency, and access global markets.
In this article, we will explore the significance of the DUNS number, its role in the import-export industry, and a detailed, step-by-step guide on how your company can register for one.
1. What Is a DUNS number for import and export companies?
The DUNS (Data Universal Numbering System) number is a unique nine-digit identifier assigned to businesses by Dun & Bradstreet (D&B).
Specifically for import and export companies, the DUNS number is recognized internationally and is often required by over 240 government, trade, and industry organizations around the globe to verify a company’s legitimacy and trustworthiness in global trade.
2. Why is the DUNS number important for import and export companies?
For import and export businesses, a DUNS number is key to establishing trust with suppliers, customers, and trade authorities worldwide, facilitating smoother cross-border transactions, and ensuring compliance with international regulations.
International trade involves building trust with partners across borders, and the DUNS number offers a way to establish credibility.
When suppliers, customers, or trade authorities (e.g. US governments, Walmart, Amazon, Intel) check your DUNS number, they can verify your company's legitimacy and financial health.
The DUNS number acts as a sign that your business is reputable and trustworthy, which can give you an advantage in competitive global markets.
Many governments and international organizations, including the United States government, Canadian authorities, and the European Union, require businesses to have a DUNS number to engage in import and export transactions.
This requirement is even more important if you work in the food, drug, pharmaceutical, and medical device industries.
For example, the U.S. Food and Drug Administration (FDA) requires all domestic and foreign food facilities and drug establishments to get a valid DUNS number and also their suppliers to get one.
Businesses that trade internationally need to be diligent in assessing the financial stability of their partners. A DUNS number provides access to a company's D&B credit report,
It helps businesses evaluate potential risks and make informed decisions when entering contracts with foreign companies. This level of transparency can help mitigate the risks associated with international trade.
Having a DUNS number speeds up the transaction process in global trade. It allows companies to access import and export records and helps governments and customs authorities quickly identify and validate companies involved in trade.
This number can be used to track goods across borders, facilitating the smoother flow of information and ensuring compliance with customs regulations.
Accessing financing for trade activities often depends on your company's ability to demonstrate its creditworthiness.
Financial institutions and trade lenders frequently use the DUNS number to assess a company’s financial health and its ability to repay loans or fulfill contracts.
A good D&B credit report linked to your DUNS number can increase your chances of securing trade financing, export credits, and other financial products.
3. How to register your DUNS number for export-import companies: A step-by-step guide
Now that you understand the importance of a DUNS number for import and export businesses, let's walk through the process of registering for one.
Before starting the registration process, you'll need:
- The exact legal name of your company;
- The physical address where your business operates;
- The primary contact number for your business;
- The total number of employees in your business, including full-time and part-time workers;
- The business structure ( a corporation, partnership, or sole proprietorship);
- Information about your company’s financial performance.
- The name and contact details of CEOs, owners
Based on your needs, Global Link Asia Consulting will consult the best DUNS package service.
For example, if you need to register for Apple Developer program and also need to verify in the import-export sector, we get you a suitable package at an affordable price.
Typically, the standard DUNS number registration is suitable for most companies.
After you agree to have our support, we will
- Prepare the necessary documents;
- Fill in the information in relevant forms;
- Assist you in authenticating business information;
- Submit to relevant Dun & Bradstreet agencies.
Once your application has been submitted, Dun & Bradstreet will review the information provided and verify the legitimacy of your business.
The verification process can take anywhere from a few days to several weeks, depending on the volume of applications and the completeness of your submission.
In some cases, Dun & Bradstreet may reach out for additional information or clarification, so we will be sure to respond promptly to avoid delays.
After your application is approved, Dun & Bradstreet will issue your DUNS number. This unique nine-digit number will be emailed to you, and you’ll also receive instructions on how to access your D&B account.
Your DUNS number is now ready to be used for import and export transactions, credit assessments, and building your company’s credibility.
4. How long does it take to get a DUNS number?
The processing time for obtaining a DUNS number varies depending on the country and the completeness of the application.
In many cases, it can take anywhere from 5 to 30 business days to receive your DUNS number.
However, if you need a DUNS number more urgently, Dun & Bradstreet offers an expedited service in some regions, which can reduce the processing time to as little as 1 to 5 business days.
5. What to do after getting your DUNS number?
Once you have your DUNS number, there are a few key actions you should take to maximize its value for your import-export business:
- Ensure that your DUNS profile is always up to date, especially as your company grows or undergoes significant changes (e.g., new address, CEO change, etc.).
- Provide your DUNS number to your partners, lenders, and government agencies. This will help streamline transactions and foster trust with stakeholders.
- Regularly check your Dun & Bradstreet credit report to ensure it accurately reflects your company’s financial health. This report is often used by financial institutions, potential partners, and suppliers to assess your company's reliability.
- Highlight your DUNS number on their websites or marketing materials to show potential clients and partners that you are credible and financially sound.
6. How can we help you get a DUNS number for import-export activities?
With expertise in DUNS registration for Apple Developer, and Google Developer accounts. trading, import-export, and other business needs, Global Link Asia Consulting offers:
- Guidance in choosing the best DUNS package;
- Support in preparing the necessary documents for registration.
- End-to-end support: From the initial consultation to the final registration, we guide you every step of the way.
If your business needs to register a DUNS number or create an Apple Business Manager account, Global Link Asia Consulting is here to help. Contact us today for a consultation, and let us handle the complexities while you focus on growing your business.
7. Common FAQs about the DUNS number
Yes, applying for a standard DUNS number requires a fee. If you need expedited processing, there may be an additional fee.
Yes, if a company has multiple divisions, subsidiaries, or branches operating in different locations, each entity can have its own DUNS number.
No, a DUNS number is a unique identifier used to track businesses globally, while an Employer Identification Number (EIN) is used for tax purposes in the United States, and a VAT number is used for value-added tax identification in many countries.
Your DUNS number remains the same throughout your company’s existence. However, you should update your D&B profile whenever there are changes to your company’s profile.
We offer comprehensive DUNS registration packages for every countries including Singapore, the USA, Hong Kong, Seychelles, BVI, Belize, Vietnam, and more. Our package includes:
- Consulting on Suitable DUNS service packages.
- DUNS registration for Apple Developer Account.
- DUNS registration for Google Ads account verification.
- DUNS registration for Apple Business Manager.
- DUNS registration for Logistics Business.
- DUNS registration for TikTokShop, E-commerce.
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Global Link Asia Consulting Pte. Ltd. is pleased to announce the publication of the above insightful and informative article on our official website, Global Link Asia Consulting on 09th September 2024. The copyright for this article is exclusively held by Global Link Asia Consulting Pte. Ltd. Any unauthorized reproduction or distribution of this content without our express written permission is strictly prohibited. We value the protection of our intellectual property and appreciate your cooperation in adhering to these guidelines. Thank you for your continued support of Global Link Asia Consulting Pte. Ltd.
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