What's Business Identity?

 
Business Identity is a tool designed to help you build trust with suppliers. Once your identity is displayed, you'll likely get faster responses from more suppliers. In short, you'll get more business opportunities.
 
 

 What's the benefit of getting Business Identity verified?
 
By getting your Business Identity verified, you can:

Display your verification status
Easier recognition means buyers are 63% more likely to contact sellers with a verified Business Identity.
Faster responses from suppliers when verified.

Get noticed quickly by sellers and buyers. 
Higher chance of getting better and faster responses.

Promotional events
Buyers or sellers who are verified can enjoy more promotional events, held jointly with kiwikiwifly.com's partners.
 
 

What are the types of Business Identity?
 
There are 4 types of Business Identity.

1. Local Stores: You have had your company name, company address, company registration number, contact person and your job title checked and confirmed by bullbullgo.com or a third-party verification agency against the relevant government records or other third-party databases within the past one year.

You may have conducted a certain amount of activities on the bullbullgo.com platform in the past, including, but not limited to: posting Requests for Quotations (RFQs), placing purchase orders online, requesting product inspections from sellers etc. This is based on the records of the bullbullgo.com platform.

2. Individual Verified Users: You have conducted a certain amount of activities on the bullbullgo.com platform, including but not limited to posting Requests for Quotations (RFQs), placing purchase orders, requesting product inspections from sellers, or you have been endorsed as a proper buyer by your qualified business partners and/or suppliers who are registered members of the bullbullgo.com platform based on your activities on the bullbullgo.com platform. The analysis is based on the records of the bullbullgo.com platform but have not yet had your identity checked and confirmed by anyone.

3. Manufacturers:  You have had your factory name, factory address, company registration number, contact person and your job title checked and confirmed by kiwikiwifly.com or a third-party verification agency against the relevant government records or other third-party databases within the past one year. You can post your items and ads under the manufacturers category.
 
4. Business KYC:

Business KYC is an identity verification measure that authenticates the legitimacy of a business and its owners before they can open an account with a financial institution. According to AML regulations, obligated entities must undergo Politically Exposed Persons (PEPs) and sanctions screening processes during a company check.
 
 

Here are some things to consider when verifying a business's identity: 
 
Information to collect:
This includes the business's legal name, address, and the identities of its owners and key employees. 

Methods of verification:
These can include reviewing corporate records, checking public databases, or collecting financial statements. 

Regulatory requirements:
Businesses must implement strong KYB processes to avoid fines and other penalties. Financial institutions in the United States are also required to verify the identity of customers through a Customer Identification Program (CIP). This includes:Collecting identifying information, such as a customer's name, address, date of birth, and Social Security number. Verifying that the customer is who they say they are.
Maintaining records of the information used to verify the customer's identity
Checking if the customer appears on any list of suspected terrorists or terrorist organizations