I would like to know what bank reference and trade reference means.Thank you.

Dear pearlkrabs-ga,

When running a business you may at some stage need to open a credit
account with a supplier or obtain goods on credit. In order to prove
the creditworthiness of your business you will asked to supply Trade
References and the details of your bankers so that they may be
approached to give a Bank Reference.

A Trade Reference is provided by an existing customer of yours,
nominated by you. They are asked to supply information about their
business dealings with your company. In particular, whether you pay
your bills on time. The information asked would vary from company to
company and country to country. This is an example from the United
Kingdom (The Better Payment Practice Campaign).
http://www.payontime.co.uk/collect/collect_creditworthy.html

A Bank Reference is a written statement by your bank on their opinion
as to whether you would be able to meet a certain credit commitment.
In other words, pay the debt when the payment  becomes due. The terms
of the statement and  procedure would vary from bank to bank and
country to country. This is an example from the United Kingdom (The
Better Payment Practice Campaign).
http://www.payontime.co.uk/collect/collect_creditworthy.html#references


These are definition from the Global Investor web site.

?Trade Reference
Definition
A reference given by one company to another regarding the
creditworthiness of another company whom it supplies with goods. It is
usual for two or more trade references together with a bank reference
to be requested by companies prior to supplying goods or services on
credit.?
http://www.finance-glossary.com/terms/trade-reference.htm?id=1450&ginPtrCode=00000&PopupMode=false

?Banker's reference
Definition
A reference sought from a bank by a company or individual regarding
the creditworthiness of another company or individual in order to
assess whether or not credit trading terms should be offered.?
http://www.finance-glossary.com/terms/banker's-reference.htm?id=118&ginPtrCode=00000&PopupMode=false

This Biz Help web site will also give you some additional information
- particularly sample letters and how to interpret the opinions in
bank references.
http://www.bizhelp24.com/credit_policy/credit_policy_assessment_bank_reference.shtml

This Credit Guru site also gives some information on Trade References.
http://www.creditguru.com/TradeRef.htm


I hope this answers your question. If it does not, or the answer is
unclear, then please ask for clarification of this research before
rating the answer. I shall respond to the clarification request as
soon as I receive it.
Thank you
answerfinder


Search strategy
Personal knowledge from UK business practices and
"trade reference" definition
://www.google.co.uk/search?q=%22trade+reference%22+definition&btnG=Search&hl=en
"bank reference" definition
://www.google.co.uk/search?hl=en&q=%22bank+reference%22+definition&btnG=Search&meta=

A trade reference doesn't necessarily have to be an established
"customer" - it can also be a vendor.
I assume you are looking for some sort of financing. I work in the
mortgage industry, and I often have the need to establish "alternate
trade references", or "non-conventional trade lines" for my customers
who do not have sufficient crredit established to obtain a mortgage
simply based on their credit history.

However, some lenders establish credit history by including
"non-traditional tradelines", such as utility companies, insurance for
cars, boats, homes, even life or health insurance - items that would
not show up on a credit report, and with the use of these "alternative
trade lines" I am often able to obtain the desired financing for my
customer.

Hope this helps.

MR.