MIRA
INFORM REPORT
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Report Date : |
13.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
B.I.D. CANADA LTD. |
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Registered Office : |
171 Hemlock St
Canada Hwy, Woostock, Nb, E7m 4e6 |
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Country : |
Canada |
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Date of Incorporation : |
01/01/1981 |
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Legal Form : |
Provincially
Chartered Corporation – Private |
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Line of Business : |
The Subject designs, manufactures, installs and maintains custom bulk material handling equipment for all industries. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE
SUMMARY
Company Name: B.I.D. CANADA LTD.
Trade Name:
Address: 171
HEMLOCK ST CANADA HWY
City: WOOSTOCK
State/Province: NB
Zip Code: E7M 4E6
Country: CANADA
Telephone: 506 328-4381
Facsimile: 506
328-3430
URL www.bidcanadaltd.com
Legal Form: Provincially
Chartered Corporation – Private
Founded (D/M/Y):
Sales / Revenue: -
Net Income:
Total Equity:
Number of
Employees: 55
Shareholder:
Business Activity: The Subject designs,
manufactures, installs and maintains custom bulk
material
handling equipment for all industries.
NOTE TO CLIENT
Person Contacted:
Mr. Gregg Slatter, Purchasing Department.
All the information
in this report was verified by Mr. Slatter.
NOTE; REGARDING
THE REQUESTED NAME BID DES INC. PLEASE BE ADVISED THATOUR CONTACT WAS NOT
FAMILIAR WITH THIS NAME EITHER AS A LEGAL NAME OR FICTITIOUS NAME. THE LEGAL
NAME OF THE COMPANY IS B.I.D. CANADA LTD, LOCATED AT THE REQUESTED ADDRESS FOR
WHICH A REPORT FOLLOWS.
LEGAL
Legal Form: Provincially
Chartered Corporation - Private
Previous Legal
Form: Agency
Since (D/M/Y): 01/01/1981
The company is NOT
required to publish an annual financial report.
The Company is registered in New Brunswick:
Id Number: 020501
Legal Name: B.I.D. CANADA LTD.
Status: Active
Filing Date: 1981
MANAGERS / KEY PERSONNEL
Mr, Ray Sullivan President
Mr. Patrick
Sullivan Manager
AFFILIATED COMPANIES
There are no
affiliates or subsidiaries.
BANKS
Bank of Motreal
Address: 505 King Street
City: Fredericton
State/Province: NB
Zip Code: E3B1E7
Country: CANADA
Telephone: (506) 453-0280
Facsimile: (506) 453-0274
The Bank requires
a signed authorization which could not be obtained from management.
PAYMENT HISTORY
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Supplier's Name/Industry Terms Amount/Pay Habits/Comments
Rptd Open Credit Credit High Total Current Past Due/Pay Period
Date Date Limit Limit Dt. Credit Owing $ 1st 2nd 3rd
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Whlsl-Plumbing/Heatg:
*Nov 0 29 29 0 29 0 0
Mfr-Industrial Mach:
*Nov 0 37,894 37,894 0 37,894 0 0
Retail-Bldg/Hardware:
*Oct 0 101 101 0 101 0 0
Transportation Serv:
*Oct 0 539 539 283 256 0 0
Mfr-Primary Metal:
*Oct 0 201K 135K 126K 8,797 0 0
Business Services:
*Sep 0 2,226 2,226 2,226 0 0 0
Wholesale-Elec Appls:
*Sep 0 15,000 2,131 0 2,131 0 0
Whlsl-Ind Mach Sppls:
*Sep 0 24,894 24,894 3,905 20,989 0 0
Whlsl Ferrs Nonferrs: DLA-2007/07/20
*Aug Oct/1999 25,000 Apr/2006 1,180 232 232 0 0 0
Transportation Serv:
*Aug 0 329 329 329 0 0 0
------- ------- ------- ------- ------- -------
P.I. = 11 90 Days 283K 203K 133K 70,197 0 0
Reported ------- ------- ------- ------- ------- -------
Trucking (APTA):
*Jul 0 900 103 103 0 0 0
Mfr Conveyors&Convey:
*May 0 2,000 321 0 321 0 0
Whlsl-Ind Mach Sppls:
*Apr 0 6,802 6,802 6,802 0 0 0
Wholesale-Chemicals:
*Apr 0 143 143 0 143 0 0
Wholesale-Elec Equip:
*Apr 0 32,988 4,498 0 4,498 0 0
Mfr-Sheet Metal:
*Jan 0 1,929 1,929 0 1,929 0 0
------- ------- ------- ------- ------- -------
P.I. = 12 Total 328K 217K 140K 77,088 0 0
Reported ------- ------- ------- ------- ------- -------
PAYMENT TRENDS
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Payment C.I. Number of Total Current Overdue
Quarters Index Score Suppliers Owing $ 1st 2nd 3rd
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3 Qtr/2007 29 15 9 48,364 7,120 41,034 0 210
2 Qtr/2007 25 13 9 201,723 57,366 134,755 9,602 0
1 Qtr/2007 19 3 7 135,758 60,733 74,040 985 0
4 Qtr/2006 3 3 7 40,027 37,698 1,417 877 35
3 Qtr/2006 9 3 10 58,246 42,852 15,273 121 0
2 Qtr/2006 4 3 9 190,805 166,145 24,638 0 22
1 Qtr/2006 0 11 7 104,128 103,684 444 0 0
4 Qtr/2005 34 12 9 316,570 30,168 249,500 36,902 0
3 Qtr/2005 28 7 8 120,833 31,521 78,549 10,761 2
FINANCIAL INFORMATION
The Company was
forwarded a fax requesting financial information. Currently we have not
received a response. Outside sources provided no insight into the financial
condition of the Company.
CURRENT OPERATIONS
SIC Code:
NAICS Code: 3221
Pulp, Paper, and
Paperboard Mills
Number of
Employees: 55
Business Activity:
The Subject
designs, manufactures, installs and maintains custom bulk material handling
equipment for all industries.
The heading
address is the Company's headquarters and sole location.
PUBLIC RECORD
A search of public shows no suits, judgments or liens filed against the subject. We also conducted a nationwide search with bankruptcy courts, which have revealed no record of a firm by this name filing for bankruptcy.
COMMENTS
B.I.D. Canada Ltd, established in 1981, designs, manufactures, installs and maintains custom bulk material handling equipment for all industries. Payment records are satisfactory and a search of public records and bankruptcy courts
returned no derogatory information or record of the Company filing a bankruptcy petition.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)