In the rapidly evolving landscape of global trade, the need for secure and transparent business transactions has never been more critical. As businesses expand their supply chains and explore new markets, ensuring that all parties involved are credible and reliable is paramount. This is where the vetting process comes into play—a crucial mechanism that safeguards the integrity of business relationships, mitigates risks, and fosters trust between buyers and suppliers.

At Studio East, we prioritize building a secure and transparent platform where buyers can confidently engage with suppliers. Our comprehensive Know-Your-Customer (KYC) process is designed to meticulously vet every supplier before they are allowed to operate on our platform. This process ensures that our marketplace remains trustworthy, efficient, and beneficial for both buyers and suppliers. Here’s how our vetting process works:

1. Supplier Registration: Gathering Essential Information

The vetting process begins with the supplier registration form, which is a critical step in onboarding new suppliers. This form requires suppliers to provide detailed company information, including:

Company Name and Registration Number: Suppliers must submit their official company name and registration number as per the Securities and Exchange Commission of Pakistan (SECP) or the relevant local authority.

Type of Business: Suppliers are asked to specify their business type, whether they are manufacturers, wholesalers, distributors, etc.

Year Established and Main Products/Services Offered: This helps us understand the supplier’s history and the products or services they offer.

Contact Information: Complete contact details, including the company address, telephone number, email, and website URL, are required for further communication.

2. Legal and Compliance Verification

To maintain the integrity of our platform, Studio East conducts thorough legal and compliance checks. Suppliers are required to provide:

National Tax Number (NTN) and GST Registration Number: These are essential for verifying the supplier’s tax compliance.

Business Registration Documentation: Documents such as Form C/29 or Abridged Annual Return are required to verify the legitimacy of the business.

Ownership Documentation: Suppliers must submit ownership documents, including partnership deeds or incorporation certificates, to validate their business ownership structure.

3. Financial Information: Ensuring Payment Security

To ensure smooth and secure transactions on our platform, suppliers must provide their bank account details. This information is vital for processing payments and ensuring that suppliers are financially stable and capable of fulfilling orders.

4. Operational Details: Assessing Capability

Understanding the operational capacity of our suppliers is crucial. Therefore, we request details such as:

Factory/Production Facility Address: If different from the company address, suppliers need to provide the location of their production facilities.

Number of Employees and Export Experience: Suppliers are asked to share the size of their workforce and their experience in exporting goods, including the countries they have served.

Quality Certifications and Annual Production Capacity: Certifications like ISO and annual production figures help us assess the supplier’s ability to maintain quality and meet demand.

5. Product Catalog and Classification

Suppliers are required to upload their product catalog, either as a PDF or a link to an online catalog. They must also select the relevant product categories, such as Fashion Apparel, Jewelry, Sporting Goods, and more. Additionally, suppliers must provide the Harmonized System (HS) codes for their main products, which are used for international trade classification.

6. Declaration and Consent: Finalizing the Vetting Process

Finally, suppliers must complete a declaration stating that all provided information is accurate and true. They must also give their consent for Studio East to conduct verification checks and agree to the terms and conditions of our platform.

Why Our Vetting Process Matters

Our rigorous vetting process ensures that every supplier on Studio East is credible, compliant with legal standards, and capable of delivering high-quality products. This process not only protects our buyers but also helps suppliers by providing them with a trustworthy platform to expand their business. By maintaining these standards, Studio East continues to build a marketplace founded on trust, transparency, and mutual success.

Whether you are a supplier looking to join our platform or a buyer searching for reliable partners, Studio East’s vetting process is your assurance of quality and integrity.