News & Press: Member News

Suppliers Know You, Shouldn’t You Know Them?

Friday, September 13, 2019  
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By Brenda Gamba, The Jewelers Board of Trade®

JBT logoAs the only commercial credit reporting agency dedicated to the jewelry industry, The Jewelers Board of Trade (JBT) tracks more than 26,000 jewelry-related businesses throughout the United States, Canada, and Internationally. As a retailer, manufacturer, wholesaler, or related service provider, there’s a good chance that you’re one of them.

Four Reasons Why Your Credit Rating is Important

As a retailer, maintaining a good credit rating gives you a competitive advantage:

  1. Access to better supply sources as the number of supplier options available to you will increase.
  2. Suppliers will give you better pricing since they often build in extra costs for slow payers.
  3. Suppliers will give you better service as the value of a fast-paying customer is higher.
  4. In addition to information available to them from JBT, suppliers are increasingly socially connected. A good credit rating is an important component of your social reputation.

JBT’s Got Your Numbers

Credit words puzzleWhen you’re listed with JBT, information about your company is stored in our database and accessible to our members to aid in their credit decision-making. In addition, all companies listed with JBT are assigned a rating that reflects the level of financial information on file with us, payment history, and information gathered by the JBT from other sources. JBT members use this information to assess the risk associated with making a sale to a particular account and to determine how much credit to extend.

Increasingly, retailers also are joining JBT to better know their supplier business partners. As a retailer, you should be aware of how credit ratings are determined and how you can use JBT to make sound business decisions.

JBT Analyzes Over $7 Billion Worth of Trade Data Each Year

Each month, JBT supplier members submit portions of their trade data, which is then matched against retailers and other providers. Due to the high volume, specific algorithms are first applied, then combined with a review by a real person. The results are Payment Scores which range from zero to four. Scores between one and four indicate paying habits of “prompt” to “slow,” respectively. A “0” is assigned when insufficient information is available, resulting in “no basis for pay rating.”

Other Factors That Go Into a JBT Rating

Although there may not be enough information to develop pay rating, a JBT Credit Report will contain additional information which is useful for our members to assess the creditworthiness of their customer.

This includes:

  • Years in business
  • Owners’ experience and prior history
  • Current management and their background
  • Availability of financial statements
  • Financial leverage, sales, and profit ratios
  • History of financial claims made against the retailer
  • Public, judicial, and government records
  • Willingness to communicate by responding to our calls for information

The last point is important: The more complete the information you provide, the more qualified your company may become. Listed accounts that decline to give information have that reflected in their credit report, which is often interpreted as a red flag by our members.

It Goes Both Ways

Although suppliers have a vested interest in knowing you, researching your suppliers is equally as important. By reviewing your supplier’s JBT Credit Report, you can:

  • Assess if they are stable and reliable for your own supply chain.
  • Meet USA PATRIOT Anti-Money Laundering Act requirements by obtaining JBT Credit Reports.
  • Manage your reputation risk and supply chain social responsibility.

JBT Retail Membership

Gain visibility for your business and learn more about the companies you buy from when you join JBT with a Retail Membership. You’ll get access to JBT’s most valuable resources including:

  • Red Book USB listing over 9,000 manufacturers and wholesalers with company name, address, phone number, and credit rating.
  • Five free Credit Reports to check on current and new suppliers
  • A monthly email with your JBT credit report and a snapshot of your credit rating, the number of times your report has been ordered over the past 12 months, and other key business data
  • A member logo to display on your website
  • Quarterly Vital Stats
  • Access to educational programs

Knowing who you do business with is simply a sound business practice.

Visit, email or call us at 401-467-0055 for more information.


Mission Statement

The American Gem Society (AGS) is a nonprofit trade association of fine jewelry professionals dedicated to setting, maintaining and promoting the highest standards of ethical conduct and professional behavior through education, accreditation, recertification of its membership, gemological standards, and gemological research.

The Society is committed to providing educational products to inform and protect the consumer and to contributing to the betterment of the trade by creating industry standards to protect the jewelry-buying public and the fine jewelry industry as a whole.

AGS Laboratories, founded to support the AGS mission, is a nonprofit diamond grading laboratory with a mission of consumer protection. Adhering to the AGS Diamond Grading Standards, AGS Laboratories is dedicated to offering diamond grading reports that provide consistency and accuracy based on science.

American Gem Society