For some business connectivity services, due to the contractual value between us and our supplier/carrier, we have to carry out additional credit checks on the customer. This is for our protection, as we'll be contractually liable for the full term in case a customer were to go out of business during the minimum term.
These credit checks are conducted to see whether the customer has sufficient financial standing, as reported to the credit rating agencies, in conjunction with our risk profile, on the terms by which some business connections are sold.
Typically we're more stringent on higher-value services such as ELITE (leased lines) as well as CityFibre & District UltraBEAM FTTP.
Start up companies
As most start-up companies have no trading history, the credit rating agencies will typically advise caution and suggest issuing no credit - and just 'cash payments'. Clearly, there's no real way these credit rating agencies know much about start-up organisations, including any financial backing or funding.
Therefore, we always advise speaking to us about your situation and we'll see what we can offer.
Some of the options we can discuss may include.
- Lowering the contract term to 12 month rather than a 36m term. However most 12m terms have an upfront install charge whereas with 36m terms there's amortised set up.
- Pre-paying the last 12 months' rental as a deposit.
- Pre-paying the entire contract.