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Understanding the Data Universal Numbering System +4: A Comprehensive Guide
Definition & Meaning
The Data Universal Numbering System +4 (DUNS+4) is a unique identifier that combines a DUNS number, which is assigned by Dun & Bradstreet, with an additional four-character suffix. This suffix is optional and can be assigned by a business to create distinct records for different Electronic Funds Transfer (EFT) accounts. It is important to note that Dun & Bradstreet does not have any affiliation with the suffix assigned by the business.
Table of content
Legal Use & context
The DUNS+4 number is primarily used in federal procurement and contracting processes. It helps businesses identify themselves uniquely in government databases, particularly when dealing with contracts and grants. This number is crucial for compliance with federal regulations and can be necessary for businesses seeking to engage in government contracts.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
For instance, a company may have a DUNS number of 123456789. If they have two different EFT accounts, they might assign the suffixes A001 and A002, resulting in DUNS+4 identifiers of 123456789-A001 and 123456789-A002. This allows them to manage payments effectively for different projects.
Comparison with related terms
Term
Definition
Difference
DUNS Number
A unique nine-digit identifier assigned by Dun & Bradstreet.
The DUNS+4 includes an additional four-character suffix for further identification.
Tax Identification Number (TIN)
A number assigned by the IRS for tax purposes.
DUNS+4 is used for business identification, while TIN is specifically for tax identification.
Common misunderstandings
What to do if this term applies to you
If you are a business seeking to apply for government contracts or grants, ensure you have a DUNS number and consider whether you need to assign a +4 suffix for your EFT accounts. You can explore US Legal Forms for templates and resources that can assist you in managing your business's legal requirements effectively. If your situation is complex, consulting a legal professional may be beneficial.
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