Certificate of good standing is documented issued by the secretary of state, to verify the going concern status of the company.
Benefits of Certificate of Good Standing:
- Suppliers are looking for a long term business relationship. When suppliers are ensured that business is going to last a longer period of time. They are more likely to offer better prices to retain these clients. Certificate of good standing can entrust suppliers about the long term existence of the organization. Suppliers are more generous on credit terms when they are aware of the business health of the customer.
- Customers especially business customers are more interested in finding suppliers with long term affiliation. Because often customers are looking for a long term supplies from a supplier. Often practices such as raising a quotation and finding new suppliers can cause burden and additional cost on the customer.
- Banks and creditors are often concerned about getting back their debts. Certificate of good standing ensures that business is in sound health. Banks and creditors can further finance the business without the freight of losing their investment into the business.
- Banks often require certificate of good standing if a company requires to open a bank account. This prevents the banks to go into business with the companies which are close to bankruptcy.
- Certificates of good standing is required to be presented to the company interested in a joint venture. Often companies are interested to know about the financial situation of the company to commit themselves in a joint venture.
WeAccountax provides services to get certificate of good standing from the relevant authority. Our services include documentation, pursuing the authority, and quick recovery of the certificate.
Our expertise in legal and financial service ground makes us number one choice for the organizations to hire because these factor contribute a lot in providing consultancy regarding certificate of good standing.