Are you obliged to tell new suppliers if you're in a CVA?

[carrera2]

A company has approached us as a potential new client and after credit checking them it transpires they entered into a CVA in '05.

Should they have told us? I can't help thinking they aren't obliged to but it would be helpful to know.

Thanks

[olf]

carrera2 said:

A company has approached us as a potential new client and after credit checking them it transpires they entered into a CVA in '05.

Should they have told us? I can't help thinking they aren't obliged to but it would be helpful to know.

Thanks

I doubt they have any responsibilty to tell you that, however now you know you can negotiate your payment terms accordingly.

[carrera2]

olf said:

carrera2 said:

A company has approached us as a potential new client and after credit checking them it transpires they entered into a CVA in '05.

Should they have told us? I can't help thinking they aren't obliged to but it would be helpful to know.

Thanks

I doubt they have any responsibilty to tell you that, however now you know you can negotiate your payment terms accordingly.

Quite. I'm not sure they'll go for cleared funds in advance but we'll see.

[restoman]

www.companyrescue.co.uk/company-rescue/options/cva-faqs.aspx