Commercial Credit Report

The commercial credit report contains information about the payment behavior of various financial obligations of legal entities, including data on the proper fulfillment and/or delinquencies of financial obligations. This information helps creditors to assess creditworthiness of their clients faster and more efficiently.

The types of commercial credit report are:

COM_REP 1- Credit Report on legal entities that contains identification data of legal entities, statistical data on credit inquiries, information on current overdue and classified credits.

COM_REP 2- Credit Report on legal that contains identification data of legal entities, statistical data on credit inquiries, additional data, as well as information on current credits.

COM_REP 3- Credit Report on legal entities that contains identification data of legal entities, statistical data on credit inquiries, additional data, as well as information on current and extinguished credits.

Own Credit Report

Where can the organization request its own credit report from?
What documents are necessary to apply for own credit report from ACRA office?
How long does it take to get a credit report?
What payments should be made for getting credit report from ACRA office?
How does ACRA guarantee the confidentiality of information?
How are the errors in credit reports corrected?

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  
• Certificate verifying registration of the Data Subject in the RA State Register
• The passport of the general manager and its 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 its copy
• 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.

What payments should be made for getting credit report from ACRA office?

The payments can be made in cash (in ACRA office) or by bank transfer.

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.