Financial Business Standing | Contractor | CHAS

​Financial​ & Business Standing

The purpose of this application is to ensure that a company is financially capable of delivering the requirements of the contract. The level of risk a buying organisation will place on this will be primarily determined by the value and length of the contract, the impact on business continuity, and on the community, if there is contractor failure.

Key considerations for the client can include;

  • Has the organisation demonstrated a track record of profitability?
  • Have they met the terms of their banking agreements?
  • How exposed is the company to debt or limited cash flow?

Information typically requested:​​

  • A copy of your audited accounts or similar
  • A reference from your bank
  • A copy of your insurance documents

​​We recognise that some SMEs or newly established businesses cannot always demonstrate the necessary track record demanded. Most clients will make allowances for alternative methods of showing financial standing.