Introduction
At World Trade Exchange Pte Ltd, we strive to partner only with reputable, financially stable, and compliant businesses to ensure the integrity and success of our operations. The following stringent eligibility criteria are designed to meticulously evaluate potential clients and ensure they meet our high standards. Each criterion requires proper documentation for review and approval before a company can join our platform and become our client. This thorough vetting process protects both our company and our clients by fostering trust and reliability in all our business dealings.
17 Eligibility Criteria for Accepting Clients at World Trade Exchange Pte Ltd
1. Audited Financial Statements
You must provide audited financial statements of your company for the last five years to ensure transparency and financial stability. These statements must be certified by a reputable accounting firm and submitted for financial review before you can join our platform and become our client.
2. Profitability
You must demonstrate consistent profitability over the last five fiscal years, with a minimum annual net profit of $60 million. Detailed and audited profit and loss statements for each fiscal year must be submitted to verify this profitability before approval.
3. Client References
You must provide at least ten references from current clients who can attest to your reliability, quality of service, and business ethics. Written testimonials or reference letters from these clients alongside their contact details and ID cards must be submitted for validation.
4. Legal History
You must disclose any past or ongoing legal disputes or litigations. A comprehensive legal disclosure, including court documents and settlement agreements if applicable, must be provided for legal assessment before acceptance.
5. Insurance Coverage
You must have adequate insurance coverage, including general liability and professional indemnity insurance, to mitigate potential risks. Copies of your insurance policies, including coverage details and validity dates, must be submitted for verification.
6. Operational Scale
You must have a minimum annual revenue of $240 million and employ at least 100 full-time employees to ensure operational capacity and sustainability. Financial statements and employment records must be provided to confirm these details.
7. Recent Bank Statements
You must submit bank statements from the last 30-90 days, showing the current balances of your accounts. This will serve as evidence of your immediate financial liquidity and ability to fund the transactions on our platform. The bank statements must be official and unaltered, provided directly from your financial institution.
8. Letter from Bank or Financial Institution
You must provide a letter on official letterhead from your bank or a recognized financial institution, confirming that your company has sufficient funds available for the transactions on our platform. The letter should be dated, signed by a bank officer, and include the bank’s contact information for verification purposes. This letter must be recent and reflect your current financial status.
9. Company Name and Details
You must provide the complete legal name, address, and registration number of the company. Official registration documents and proof of address must be submitted for verification.
10. Payment Account Details
You must provide the name of the bank, account holder’s name as it appears on the account, and the account number from which the payment will be made. This information is crucial for matching the payment with the transaction for regulatory and bookkeeping purposes. A signed and stamped bank document confirming these details must be submitted.
11. Established Business Owners
Your company must be led by established business owners with a proven track record of at least five years in the industry, demonstrating their experience and credibility. Detailed resumes and professional biographies of the business owners must be submitted for evaluation.
12. Work Experience/ Background
You must provide the last 5 years of work experience, background, and resumes for all operating directors and substantial shareholders. These documents must detail relevant achievements and roles to assess their expertise and qualifications.
13. Client Information
You must provide the names and contact information of 20 existing clients along with their countries. A list of these clients, including contact details and a brief description of services provided, must be submitted for reference checks.
14. Supplier Information
You must provide the names of 20 existing suppliers along with their countries. Detailed information, including contact details and nature of the business relationship, must be submitted for verification.
15. Recent Invoices/ Contracts/ Agreements
You must provide recent sets of 20 invoices, contracts, or agreements with your existing clients and suppliers. These documents must be submitted in full to verify ongoing business activities and contractual commitments.
16. Business Website
You must provide the URL of your company’s business website, which will be reviewed for professionalism, content, and online presence. A detailed review of the website’s content and functionality will be conducted to ensure it meets our standards.
17. ID Documents
You must provide ID documents for all shareholders, all directors of the company, and signatories to the company’s bank account. Copies of government-issued IDs, such as passports or national ID cards, must be submitted for identity verification and compliance purposes.
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