Last updated on 06/07/2018

Commercial credit report

COM_REP 0 (short)

Last updated on 06/07/2018

  • Identification data of subject
  • Brief statement on credits & guaranties number
  • Credit organization
  • Credit number
  • Credit status
  • Past due availability
  • Credit risk class
  • Credit info renewal date

Example

COM_REP 1 (descriptive)

Last updated on 06/07/2018

  • Identification data of subject
  • Brief statement on credits & guaranties number
  • Credit organization
  • Credit number
  • Credit status
  • Credit risk class
  • Credit info renewal date

  • Brief statement on credits due amounts
  • Total number of credit report inquiries (30 days / 1 year / self inquiry)
  • Date of credit contract
  • Type of credit
  • Date of credit past due
  • Actual balance
  • Past due percentage
  • Notes (concerning credit)
  • Guarantee amount
  • Inquiries on person during last 1 year

Example

COM_REP 2 (extended)

Last updated on 06/07/2018

  • Identification data of subject
  • Brief statement on credits & guaranties number
  • Credit organization
  • Credit number
  • Credit status
  • Credit risk class
  • Credit info renewal date
  • Brief statement on credits due amounts
  • Total number of credit report inquiries (30 days / 1 year / self inquiry)
  • Date of credit contract
  • Type of credit
  • Date of credit past due
  • Actual balance
  • Past due percentage
  • Notes (concerning credit)
  • Guarantee amount
  • Inquiries on person during last 1 year

  • Date of credit issue
  • Date of credit final repayment
  • Date of credit actual repayment
  • Credit amount by contract
  • Actual amount provided
  • Actually repaid amount
  • Actual balance
  • Number of past due days
  • Date of the last credit classification

Example

COM_REP 3 (full)

Last updated on 06/07/2018

  • Identification data of subject
  • Brief statement on credits & guaranties number
  • Credit organization
  • Credit number
  • Credit status
  • Credit risk class
  • Credit info renewal date
  • Brief statement on credits due amounts
  • Total number of credit report inquiries (30 days / 1 year / self inquiry)
  • Date of credit contract
  • Type of credit
  • Date of credit past due
  • Actual balance
  • Past due percentage
  • Notes (concerning credit)
  • Guarantee amount
  • Inquiries on person during last 1 year
  • Date of credit issue
  • Date of credit final repayment
  • Date of credit actual repayment
  • Credit amount by contract
  • Actual amount provided
  • Actually repaid amount
  • Actual balance
  • Number of past due days
  • Date of the last credit classification

  • Brief statement (on other obligations)
  • Average monthly income
  • Data on bankruptcy
  • Annual percentage rate
  • Scope of credit use
  • Place of credit use
  • Collateral subject
  • Collateral subject value
  • Notes on collateral
  • Number of credit terms revisions
  • Actual payments monthly chart
  • Information on affiliates
  • Other obligations (i.e. communal)

Example

The commercial credit report contains 5 year information (from the inquiry date) about the payment behavior of various financial obligations of legal entities, including data on the proper fulfillment and/or delinquencies of financial obligations.

Where can the organization request its own credit report from?
Any person (individuals and organizations) may apply for its own credit report from ACRA office or from the member organization of ACRA if the person is applying for a loan or is going to enter into other legitimate business transaction.

 
What documents are necessary to apply for own credit report from ACRA office?
The following documents are necessary to get a credit report.

For organizations (Data Subject)

  • Application form wordoc
  • certificate verifying registration of the Data Subject in the RA State Register (hardcopy and copy),
  • passport of the general manager (hardcopy and copy),
  • In case of acting on behalf of Data Subject’s general manager:
    • power of attorney from Data Subject’s general manager verified by the notary
    • passport of authorized person and general manager`s passport copy
  • Stamp (if available)
  • In special cases other documents required by ACRA
How long does it take to get a credit report?
Credit report is ordinarily provided instantly provided all the necessary documents are in place. In certain cases, however processing may last up to two working days.

 

How does ACRA guarantee the confidentiality of information?
According to the legislation of the Republic of Armenia ACRA may not publicize any information on Data Subject without the consent from the Data Subject (with an exception of special cases prescribed by the law). Member organization may request for credit report from ACRA only if it holds written consent from the Data Subject. The consent may have a form of separate document or can be included in the content of credit application or contract of bank or credit organization.

 

How are the errors in credit reports corrected?
If Data Subject finds errors in its credit report it should contact directly to the source of information. If the source cannot be identified from the content of credit report Data Subject may visit ACRA office to find out the source of information. The errors are corrected by the source of information.