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Business Information


SITE VISITS

Suggested for new customers to view appearance of property, confirm number of employees, meet with owners to establish relationship and ask questions

CREDIT APP

BUSINESS IDENTITY

Full Legal Business Name  
Mailing Address  
Physical Address  
Phone/Fax  
Email  
A/P Contact Name Accounts Payable Contact Name
A/P Phone Accounts Payable Contact Phone #
A/P Email Accounts Payable Contact email address
Fax Accounts Payable Contact Fax #
Nature/Type of Business  
Years in Business  

OWNERS

Name  
Title  
Nationality Is this relevant to make a credit decision?  Legal to ask this question?  Privacy laws?
Parent Company Name and Address  
Subsidiaries/Sister Companies  

TAX NUMBER/TAX EXEMPTION CERT.

VAT - Impuesto al valor agregado (IVA)  

COMPANY STAMP

  What is this? Applicable to Mexico?

FORM OF ENTITY

MOST COMMON  
Sociedad anónima (S.A.) stock corporations with either fixed or variable capital
Sociedad anónima de capital variable (S.A. de C.V.)
Sociedad de Responsabilidad Limitada (S. de R.L. de C.V.) limited liability company
Sociedad de Responsabilidad Limitada de capital variable (S. de R.L. de C.V.)
OTHER TYPES  
Maquila/IMMEX Company  a Mexican subsidiary wholly-owned by a foreign parent for the purposes of contract manufacturing in Mexico
Sociedad en Nombre Colectivo  
Sociedad en Comandita Simple partnership with limited and unlimited liability partners
Sociedad civil civil partnership
Asociación en participación joint venture contract
Sucursal de sociedad extranjera branch of a foreign corporation
Comerciante - Empresa de persona física sole proprietorship
Asociación civil civil association, for charitable and other nonprofit corporations
Sociedad Anónima Promotora de Inversión(SAPI) non-listed, limited liability corporation that acts mainly as a vehicle for attracting private equity instruments

REGISTRATION/COMMERCIAL ID #

RFC The Mexican Tax Administration Service assigns a unique number (Clave en el Registro Federal de Contribuyentes - RFC) to each person enrolled in the Registry; the issued RFC has a special structure depending on the type of taxpayer (individual or legal person). The latter is the only distinction provided for in the Mexican tax provisions.1

BANK REFERENCES/BANK CONTACT

Iban/Swift Code Are bank references common in Mexico?

TRADE REFERENCES

  Are trade references common in Mexico?

PERSONAL GUARANTEE

  Difficult to pierce corporate veil in Mexico so Personal Guarantee is suggested

CROSS CORPORATE GUARANTEE

  Difficult to pierce corporate veil in Mexico so Cross Corporate (Parent) Guarantee is suggested

COPY OF FINANCIAL STATEMENTS

  Financials are not always valid. Are they common to obtain in the Mexican credit culture?

CUSTOM BROKER


ANY LAWSUITS OUTSTANDING? IF SO, PLEASE EXPLAIN.


CREDIT APP IS ENFORCEABLE AS CONTRACT IN MX

https://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/tax-identification-numbers/Mexico-TIN.pdf


SECURITY FINANCING

May be pledged under Mexican Law:      
Bank Accounts      
Equipment      
Animals      
Crops      
Timber      
Inventory      
Leases      
Receivables      
Contractual Rights      
Vehicles      
Cash      

BANKRUPTCY

GOVERNING LAW

Law of Competition (Ley de Concursos Mercantiles) - LCM      

DEADLINES

Law of Competition (Ley de Concursos Mercantiles) - LCM      

WHO CAN FILE INSOLVENCY CLAIMS?

Written Petition      
Original Documentation Contracts/Purchase Orders/Invoices    

CONCURSO MERCANTILE

Conciliation The first stage of a concurso procedure is the conciliation stage, which aims to encourage a binding reorganisation agreement between the debtor and its creditors and, as a result, avoid the debtor's bankruptcy or liquidation. A conciliator, who initially acts as an intermediary between the company and its creditors, must direct this attempt.    
    The declaration of insolvency must establish that the debtor has incurred a general default of its payment obligations, and must include a provisional list of creditors identified in the debtor's accounting records. This list does not exhaust the proceeding for recognition, ranking and determination of the priority of creditors' claims. Under the LCM, the declaratory of insolvency must include:
• The retroactivity date (that is, the date to which the effects of the concurso procedure will be applied retroactively, known as the "hardening" or "look-back" period).
• A declaration that the conciliation stage has commenced.
• Instructions for the IFECOM to appoint a professional conciliator.
• An order for the debtor to immediately provide to the conciliator the debtor's books, records and all other necessary documents, and allow the conciliator and interveners, if any, to carry out the activities necessary to perform their duties, and to suspend the payment of debts.
    Protection from creditors: No particular protection from the creditors is provided by statue. The debtor can terminate contracts if this was expressly agreed in the corresponding agreement, but subject to special rules and limitations provided in the LCM. The LCM provides special rules for:
• The termination of leases.
• The purchase of goods that are not delivered.
• Deposits.
• Repurchase and derivative agreements.
• Security loan transactions.
• Differential or future contracts.
• Lump sum construction contracts and insurance contracts.
    Length of procedure The conciliation stage must not last more than 185 calendar days, unless extended for up to two additional consecutive periods of 90 calendar days each. However, the conciliation stage must not last more than 365 calendar days.
    Conclusion The conciliation stage concludes and the debtor is declared bankrupt if the:
• Conciliation stage ends without the parties reaching a creditors' agreement.
• Debtor fails to comply with the creditors' agreement.
• Debtor requests its bankruptcy.
• Conciliator requests the debtor's bankruptcy and the court agrees to grant it.

CONCURSO MERCANTILE

Bankruptcy The second stage of a concurso procedure, if applicable, consists of the bankruptcy stage. The Mexican insolvency law (LCM) does not provide different insolvency proceedings for individuals and companies or make distinction between "preventative" insolvency proceedings and "actual" insolvency proceedings.    

Source

PracticalLaw