[Certification Class] Credit reporting agencies, industry associations, credit rating agencies: which one should be chosen for the 3A credit certificate used in bidding?

As a bidder, to win a bidding project, you need to prepare project materials and qualification documents according to the bidding documents, making you appear better than other competitors. Simply put, bidding involves either printing and stamping materials or handling qualifications.

Printing and stamping materials rely on file management and just take time. But qualifications are harder to handle. For example, if the bidding documents require submitting a credit rating report, which rating agency's credit rating results are recognized? Here is some information to help avoid pitfalls and missing good bidding opportunities.

Those who frequently participate in various project bids may have deeper questions. Sometimes projects require third-party credit agencies, credit evaluation cabinets, bank credit agencies, competent authorities, or provincial industry associations to issue 3A credit rating certificates and corporate credit reports.

In fact, many units can issue 3A credit ratings. Some industry (commercial) associations, credit agencies, and third-party credit service institutions can all provide 3A credit rating certificates and corporate credit reports.

If you have already obtained the bidding documents and there are clear requirements, it is recommended to find the corresponding agency according to the requirements in the bidding documents.

But if you plan to bid but have not yet obtained the bidding documents, or want to prepare some credit qualifications as reserves, my suggestion is to find a third-party credit service institution.

Screenshot of a domestic bidding project

According to the regulations of the National Development and Reform Commission, the People's Bank of China, and the Central Organization Department's "Notice on the Use of Credit Records and Credit Reports in Administrative Management Matters": In government procurement, bidding, administrative approval, market access, qualification review, and other administrative management matters, relevant market entities are required by law to provide credit records or credit reports issued by third-party credit service institutions.

Policy original text

Currently, the credit rating certificates and corporate credit reports encouraged by the state and recognized by bidding units are all issued by third-party credit service institutions. However, different local governments and bidding units have different recognition standards, which is why various institutions issue 3A credit rating certificates and corporate credit reports.