Abstract and keywords
Abstract (English):
Economic entities involved in food production interact with a large number of counterparties and depend on their integrity. They have to check their potential business partners before cooperating. Contractual due diligence is a service provided by consulting and audit firms that use a variety of tools, e.g., databases and online services, to collect and analyze information. This research considered the main areas of contractual due diligence and assessed the tools involved. The authors used the common methods of comparison, generalization, and synthesis to describe the main due diligence stages and digital tools. Information about the counterparty was collected in three areas: legal capacity, financial position, and business reputation. The study focused on the stage of summary, analysis, and profiling. The authors determined the role of digital technologies at each stage, compared their performance, and defined their limitations. The research revealed the potential of various digital tools for contractual due diligence. The results may help due diligence experts to plan the profiling process.

Contractual due diligence, counterparty, databases, online services, trustworthiness, legal capacity, financial condition, business reputation
Publication text (PDF): Read Download

1. Fomenko AV, Tyunin EB. Research and development of an information system for assessing the reliability of the contractor. Financial Markets and Banks. 2021;(5):54-57. (In Russ.). https://elibrary.ru/CCGMOK

2. Ivashkevich VB. Economology in the digital economy system. International Accounting. 2018;21(4):378-387. (In Russ.). https://doi.org/10.24891/ia.21.4.378

3. Aseev DA. Topical issues of application of the due diligence counterparty verification system in an economic entity. Eurasian Scientific Journal. 2022;14(5). (In Russ.). https://elibrary.ru/VVVWRM

4. Kabanova NA, Tselykovskaya AV. Formation of due diligence of counterparties. Eurasian Scientific Journal. 2022;14(5). (In Russ.). https://elibrary.ru/ZGUFWM

5. Checking the counterparty before concluding the contract. Active check [Internet]. [cited 2023 Jan 27]. Available from: https://www.klerk.ru/buh/articles/444574

6. Karpinskikh AD, Karpova OV. Methodological bases for assessing the reliability of counterparties to improve the efficiency of managing the receivables of an enterprise. Scientific and Practical Research. 2021;37(2-2):24-31. (In Russ.). https://elibrary.ru/LWNNQM

7. Müller C. Challenges and risks in the due diligence process answered with an innovative approach. HighTech and Innovation Journal. 2021;2(1):51-66. https://doi.org/10.28991/HIJ-2021-02-01-06

8. Kirilovsky VA. Practical advice for verifying contractors for reliability before concluding transactions. Legal Fact. 2022;(169):6-11. (In Russ.). https://elibrary.ru/GXACWP

9. Serebryanik IA, Zolotukhina DM. Contractor’s checkup: additional possibilities for business. Discussion. 2016;74(11):53-57. (In Russ.). https://elibrary.ru/XWOAWD

10. Kharcheva IV, Makunina IV, Grushko ES. Organizational and methodological aspects of due diligence when choosing a counterparty. Bulletin Tver State University. Series: Economics and Management. 2022;59(3):43-53. (In Russ.). https://doi.org/10.26456/2219-1453/2022.3.043-053

11. Galkina MV, Kurtova AG, Snatkina SI, Vyzhitovich AM. Improvement of control procedures when analyzing the financial position of counterparties. Territory Development. 2018;13(3):20-27. (In Russ.). https://doi.org/10.32324/2412-8945-2018-3-20-27

12. Chernysheva OG. Tools for controlling contractors in the management system of an industrial organization. Economics. Profession. Business. 2022;(2):126-130. (In Russ.). https://doi.org/10.14258/epb202230

13. Bychkova SM, Karelskaia SN, Abdalova EB, Zhidkova EA. Social responsibility as the dominant driver of the evolution of reporting from financial to non-financial: theory and methodology. Foods and Raw Materials. 2021;9(1):135-145. https://doi.org/10.21603/2308-4057-2021-1-135-145

14. Shemchuk MA, Shadrin VG, Komarcheva OS, Konovalova OV. Digital marketing communications in the sports nutrition market. Food Processing: Techniques and Technology. 2022;52(1):178-188. (In Russ.). https://doi.org/10.21603/2074-9414-2022-1-178-188

15. Chomaev MN. Scoring as a tool for checking the reliability of the counterparty. Colloquium-Journal. 2019; 34(10-2):185-187. (In Russ.). https://elibrary.ru/wbrgsm

16. Chitimira H, Munedzi S. Overview international best practices on customer due diligence and related anti-money laundering measures. Journal of Money Laundering Control. 2023;26(7):53-62. https://doi.org/10.1108/JMLC-07-2022-0102

17. Gaviyau W, Sibindi AB. Customer due diligence in the FinTech era: A bibliometric analysis. Risks. 2023;11(1). https://doi.org/10.3390/risks11010011

18. Matthews B. The need for customer due diligence to adapt to the digital era. Journal of Digital Banking. 2022;7(1):37-45.

19. Turuk M, Moric Milovanovic B. Digital due diligence: A complementary perspective to the traditional approach. International Journal of Contemporary Business and Entrepreneurship. 2020;1(2):54-66. https://doi.org/10.47954/ijcbe.1.2.4

20. Xu C, Liu C, Nie D, Gai L. How can a blockchain-based anti-money laundering system improve customer due diligence process. Journal of Forensic and Investigative Accounting. 2021;13(2):273-287.

21. Sing M. Business due diligence. Governance Directions. 2021;73(4):166-168.

Login or Create
* Forgot password?