Definition
A DUN’S Number, short for Dun’s Market Identifier, is a unique nine-digit identifier assigned to businesses by Dun & Bradstreet (D&B). This identifier is used to create a comprehensive database of businesses across the globe, facilitating the exchange of business information. The DUN’S Number is integral to establishing a company’s identity in financial transactions, credit assessments, and various business-related processes.
Examples
- Company A (123456789): A retailer that uses its DUN’S Number to procure supplies on credit from various distributors.
- Company B (987654321): A multinational corporation that leverages its DUN’S Number to establish a credit profile and secure better financing terms.
- Company C (567891234): A small business which uses its DUN’S Number to participate in government contracts that require this identification.
Frequently Asked Questions (FAQs)
What is the purpose of a DUN’S Number?
A DUN’S Number serves as a universal standard for identifying businesses. It is used in a variety of applications, including establishing business credit, supplier qualification, and government contracting.
How can a business obtain a DUN’S Number?
A business can apply directly through the Dun & Bradstreet website to receive a unique DUN’S Number. The process involves providing detailed company information.
Is there any cost associated with obtaining a DUN’S Number?
Obtaining a DUN’S Number is typically free for businesses wanting basic registration. However, premium services for detailed reports and monitoring may incur fees.
Can a company change its DUN’S Number?
No, a DUN’S Number is unique and remains associated with the business throughout its lifecycle. It does not change, even if the business undertakes rebranding or relocation.
How long does it take to get a DUN’S Number?
The general processing time for receiving a DUN’S Number is usually 30 days, but expedited services are available for a fee.
Related Terms
- EIN (Employer Identification Number): A federal tax identification number assigned by the IRS to identify a business entity.
- LEI (Legal Entity Identifier): A 20-character identifier used to uniquely identify parties to financial transactions worldwide.
- CAGE Code (Commercial and Government Entity Code): A unique identifier assigned to suppliers for U.S. government procurement.
Online References
- Dun & Bradstreet Official Site
- U.S. Small Business Administration (SBA)
- Internal Revenue Service (IRS)
Suggested Books for Further Studies
- “The Essentials of Finance and Accounting for Nonfinancial Managers” by Edward Fields
- “Financial Intelligence, Revised Edition” by Karen Berman and Joe Knight
- “Accounting for Non-Accountants” by Wayne Label
- “Business Credit: How to obtain it, Use it, and Maintain it” by Victoria Ring
- “The Guide to Business Credit” by Ty Kiisel
Fundamentals of DUN’S Number: Business Identifier Basics Quiz
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