Trace Credit Record Registration-World Credit Organization
5.2 Trace credit record registration
People can register their trace credit records with the World Credit Organization (WCO) for free, applicable standard: "ICE8000 Trace Credit Record Registration Standard" (https://www.ice8000.org/acnhwgc/138.htm) p>
5.2.1 Related Terms
Trace credit records refer to credit records with trace nature that are objectively produced by social subjects due to interests in others. Trace credit records can indirectly reflect an organization's honesty, willingness to perform, and ability to repay debts.
Credit registration means that one or both parties in an interested relationship abide by the principle of good faith, the bottom line of morality, and the bottom line of social responsibility to register their trace credit records with the World Credit Organization (WCO).
Stake relationship refers to the direct interest relationship between social subjects, mainly including: investment relationship, employment relationship, membership relationship, donation relationship, customer relationship, creditor's rights and debts relationship, guarantee relationship, etc.
5.2.2 Benefits of credit registration
The more trail credit records a person has, generally speaking, the more trustworthy they are.
5.2.3 The credit registration procedure is as follows
(1) One of the interested parties registers the trace credit record with the World Credit Organization (WCO), and notifies the other party to review and confirm;
(2) After receiving the review notice, the other party can handle it according to the following situations:
A. If the two parties agree on the obligation of credit registration, the review shall be conducted within two working days. If the two parties have not agreed on the obligation of credit registration, they have the right not to conduct the review.
B. After review, the registration information is found to be inaccurate, the application is rejected and the reasons are explained, and the re-registration is carried out after verification by the registrant.
C. After review, the registration information is considered to be true and confirmed.
(3) After the interest relationship changes, the parties should change the registration in a timely manner.The above content is excerpted from "Introduction to ICE8000 Credit Knowledge" (written by Fang Bangjian, free to use, but please indicate the source)