REQUIRED PROCEDURES OF COUNTERPARTY VERIFICATION BEFORE CONCLUDING A DEAL

Abstract

Aim. To consider tools for checking the counterparty for trustworthiness at the transaction stage, which will identify potential risks in cooperation with the selected partner. Methodology. During the research, methods of observation, generalization, description and the dialectic method were applied, the most frequent and relevant risks were assessed, and empirical material was analyzed. Results. Based on the results of the study, the author concluded that at the stage of concluding a deal with a new or permanent counterparty, it is advisable and possible to use the available methods of checking its reliability, allowing to draw relevant conclusions about the prospects for further cooperation and possible risks. Research implication. The article formulates proposals for verification counterparties, guided by which it will be possible to obtain the necessary information and identify the checked counterparty on the grounds of a one-day company and a company on the verge of bankruptcy, or a bona fide organization that will properly fulfill its contractual obligations, which will avoid the occurrence of negative consequences after the conclusion of the transaction.