Counterparty Risk

Written by Marion Willems on . Posted in Blog

When it comes to counterparty risks it is important to ascertain the economic situation of a business partner as a whole, assess it and classify it, so that default risks on the part of a customer, supplier or third-party business partner (e.g. a joint-venture partner ) can be identified timely.
In crisis situations in particular, when dealing with new customers, for example, companies need to take a long hard look before they enter into a business relationship. Properly effective counterparty compliance checks include, amongst other things, risk identification of the business partners within the framework of a know-your-customer check (Company details, managing directors, head office location, extracts from the Commercial Register, etc.). It is not unknown that falsified Commercial Register extracts are presented, or fictitious companies used for dubious business transactions, or corporate structures cloaked in obscurity. In the context of an integrity check, business partners need to be controlled with regard to the corruption perception index, if they originate from high-risk countries, the anti-corruption measures which they implement themselves and their seriousness and reputation, including in respect of environmental protection and corporate responsibility.

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