Accounts Payable

Money owed by a company to its creditors.


Accounts Receivable

Money owed to a company by its debtors.



Any negative event that has occurred in the bureau such as Default, ExAd, Court Action, Mercantile Agent Enquiry.



Australian Securities and Investments Commission.


Australian Business Number. A unique 13 digit identifying number issued by the Australian Business Register.
Australian Company Number. A unique 9 digit identifying number ASIC issues to a company on registration under the Corporations Act 2001.



Bankrupt A person or organisation declared in law as unable to pay their debts.



Creditor A person or company to whom money is owing.




A person or organisation that owes money.



The failure to fulfil an obligation, especially to repay a loan or appear in a law court.


Director A natural person appointed as a director of a company who is then responsible for directing and managing the affairs of a company. Also includes a shadow director.



Equifax Score

The Equifax Score is a credit rating between 0-1200 that lenders can look at when deciding whether to accept an application for a loan or credit. Generally, the higher the score, the better you look to lenders.


External Administration

External administration includes administration, receivership and liquidation.


External Administrator A general term for an external person formally appointed to a company or its property. An external administrator is sometimes also referred to as an insolvency practitioner.