Caribbean Credit Bureau

Merchants

 

CCB offers memberships to Merchants (retailers selling to end-consumers) and Credit Institutions (commercial banks).  

All merchants extending credit to consumers are strongly encouraged to become a member of CCB.  It has been proven internationally that there is value to participating members, consumers and the general economy to have a strong credit bureau operating in the economy.  

CCB only offers its services to merchants that operate in a well-controlled environment and adheres to sound procedures surrounding issuing and controlling credit sales.  Access to information by members is provided on the basis of reciprocity.  All members are required to provide data to CCB's Online Registry in accordance with the General Rules and the Code of Conduct.  CCB accepts collection agencies or other institutions who have taken over the right of collection from Merchants.  Certain authorities such as the tax collector also qualifies to become a member of CCB.

Member benefits for Merchants include access to Negative Data:

  • Easy instantaneous on-line information about default histories of consumers;
  • Information about payment arrangements with the lenders or authorities such as the tax collection office;
  • Information as to any debt restructuring and debt management arrangements of consumers;
  • Information about debts of the consumer that were written off;
  • Information about debts that are in arrears but not yet formally in default;
  • Late payment behaviour;
  • Information about bounced checks written by consumers.

This useful information will assist the Merchants to:

  • Expand customer base with better access to more consumers, including those with good credit records.
  • Better understand the relationship customers have with other lenders.
  • Expedite the loan approval process and increase competitiveness.
  • Increase application quality and profitability. Lenders can offer targeted pricing to customers based on the level of risk involved in extending loans.
  • CCB's 10 years of experience has shown that many old defaulted credits were repaid by consumers who needed to improve their Credit Report because they were applying for new credit at another instituion. 

It is to be understood that access to all the information is strictly limited for use when making credit decisions about a consumer. CCB has strict procedures that require members to limit use of the system to the purposes of which the data was collected.

To adere to the transaparancy objectives, each credit check made by a member will show on the Credit Report that is requested by the consumer.  A member must be able to give the reason to a consumer why a Credit Report was requested on that Consumer.

If you represent a merchant and wish to inquire about becoming a member, please contact CCB.