Frequently Asked Questions
The background check includes: a) Judgments filed against the business b) Liens filed against the business c) Bankruptcy filings by the business d) Payment history indicator e) Sanctions/OFAC indicator
A judgment is a piece of paper issued by the court stating that the creditor has won the lawsuit and is entitled to a certain amount of money from the debtor.
A legal claim that someone or something has on the property of another person until a debt has been paid back.
Bankruptcy is a legal process which happens when a business does not have enough money to pay all of its debts.
Scorely works with multiple data partners including a business credit bureau to retrieve and analyze payment history. The only options are 'Good' or 'Bad'.
OFAC is the acronym for the Office of Foreign Asset Control. OFAC compliance is critical for U.S. businesses; the regulations are in place in part to ensure that companies don't unwittingly do business with terrorist organizations or other unsanctioned entities. Businesses are responsible for following OFAC regulations designed to halt terrorist and other illegal funds from circulating.
Yes. We are always looking to add more information on businesses to the background check section. Look for violations, permits, licenses, loan information and more in the near future.
The snapshot will tell you the quantity of judgments, liens and bankruptcy filings. Details will give you the filing with information such as dates, dollar amounts and more. The snapshot and details are included in the premium membership.
They represent judgment, lien and bankruptcy filings.
Every new user will receive 2 free background checks, and if they want more, it'll cost just $50/month for unlimited background checks on US businesses.