The Dun and Bradstreet Number, commonly known as the DUNS number, is a unique nine-digit identifier assigned to individual business entities. This number helps to establish a business's creditworthiness and facilitates the linking of corporate family structures. It is widely used in various business transactions and is essential for companies seeking to engage in trade or secure loans.
The DUNS number is used primarily in the context of business credit reporting and financial transactions. It is important in several legal areas, including:
Businesses often need to obtain a DUNS number to qualify for loans or contracts, and users can manage this process with the right legal templates available through US Legal Forms.
Here are a couple of examples of abatement:
Example 1: A small business owner applies for a loan to expand their operations. The lender requires a DUNS number to assess the business's creditworthiness.
Example 2: A company seeks to bid on a government contract. They must provide their DUNS number as part of the application process to verify their business identity and financial standing.
| Term | Definition | Difference |
|---|---|---|
| DUNS Number | A unique identifier for businesses. | Specifically for credit and business identity. |
| Employer Identification Number (EIN) | A unique number assigned to businesses for tax purposes. | Used primarily for tax identification, not credit. |
| Business License | A permit issued by a government authority to operate a business. | Regulatory compliance, not a credit identifier. |
If you need a DUNS number, follow these steps:
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A DUNS number is used to identify a business and assess its creditworthiness.