DUN'S Number

Definition

A DUN’S Number, short for Dun’s Market Identifier, is a unique nine-digit identifier assigned to businesses by Dun & Bradstreet (D&B). This identifier is used to create a comprehensive database of businesses across the globe, facilitating the exchange of business information. The DUN’S Number is integral to establishing a company’s identity in financial transactions, credit assessments, and various business-related processes.

Examples

Company A (123456789): A retailer that uses its DUN’S Number to procure supplies on credit from various distributors.
Company B (987654321): A multinational corporation that leverages its DUN’S Number to establish a credit profile and secure better financing terms.
Company C (567891234): A small business which uses its DUN’S Number to participate in government contracts that require this identification.

Frequently Asked Questions (FAQs)

What is the purpose of a DUN’S Number?

A DUN’S Number serves as a universal standard for identifying businesses. It is used in a variety of applications, including establishing business credit, supplier qualification, and government contracting.

How can a business obtain a DUN’S Number?

A business can apply directly through the Dun & Bradstreet website to receive a unique DUN’S Number. The process involves providing detailed company information.

Is there any cost associated with obtaining a DUN’S Number?

Obtaining a DUN’S Number is typically free for businesses wanting basic registration. However, premium services for detailed reports and monitoring may incur fees.

Can a company change its DUN’S Number?

No, a DUN’S Number is unique and remains associated with the business throughout its lifecycle. It does not change, even if the business undertakes rebranding or relocation.

How long does it take to get a DUN’S Number?

The general processing time for receiving a DUN’S Number is usually 30 days, but expedited services are available for a fee.

EIN (Employer Identification Number): A federal tax identification number assigned by the IRS to identify a business entity.
LEI (Legal Entity Identifier): A 20-character identifier used to uniquely identify parties to financial transactions worldwide.
CAGE Code (Commercial and Government Entity Code): A unique identifier assigned to suppliers for U.S. government procurement.

Online References

Suggested Books for Further Studies

“The Essentials of Finance and Accounting for Nonfinancial Managers” by Edward Fields
“Financial Intelligence, Revised Edition” by Karen Berman and Joe Knight
“Accounting for Non-Accountants” by Wayne Label
“Business Credit: How to obtain it, Use it, and Maintain it” by Victoria Ring
“The Guide to Business Credit” by Ty Kiisel

Fundamentals of DUN’S Number: Business Identifier Basics Quiz

### What is the primary purpose of a DUN'S Number? - [ ] It is used solely for tax reporting. - [x] It is a universal identifier for businesses. - [ ] It tracks a company's sales performance. - [ ] It is only used for international trade. > **Explanation:** The primary purpose of a DUN'S Number is to serve as a universal identifier for businesses, facilitating credit assessments and business transactions. ### How many digits comprise a DUN'S Number? - [ ] 6 digits - [ ] 8 digits - [x] 9 digits - [ ] 12 digits > **Explanation:** A DUN'S Number consists of exactly nine digits, uniquely identifying each business. ### Who assigns and maintains DUN'S Numbers? - [ ] Internal Revenue Service (IRS) - [x] Dun & Bradstreet (D&B) - [ ] Federal Trade Commission (FTC) - [ ] Securities and Exchange Commission (SEC) > **Explanation:** Dun & Bradstreet (D&B) assigns and maintains DUN'S Numbers for businesses globally. ### What type of businesses can apply for a DUN'S Number? - [ ] Only large corporations - [x] Any business entity - [ ] Only government contractors - [ ] Non-profit organizations only > **Explanation:** Any business entity, regardless of size, can apply for a DUN'S Number. ### Can a DUN'S Number be used for government contracting? - [x] Yes, it is often required. - [ ] No, it is not related. - [ ] Only for state contracts. - [ ] Only outside the United States. > **Explanation:** A DUN'S Number is often required for government contracting, making it integral for businesses aiming to secure government contracts. ### Is the application for a DUN'S Number a one-time process? - [x] Yes - [ ] No, it needs annual renewal. - [ ] It must be renewed every five years. - [ ] It changes with company ownership changes. > **Explanation:** Receiving a DUN'S Number is typically a one-time process, although periodic updates to the company's information may be required. ### Which federal entity sometimes requires a DUN'S Number for proposal submission? - [x] U.S. Government - [ ] United Nations - [ ] World Trade Organization - [ ] European Commission > **Explanation:** The U.S. Government often requires a DUN'S Number for businesses submitting proposals for federal contracts. ### What additional service does Dun & Bradstreet provide alongside the DUN'S Number? - [ ] Business name registration - [x] Business credit reports - [ ] Payroll services - [ ] Product marketing > **Explanation:** Dun & Bradstreet provides business credit reports alongside the DUN'S Number to assess the creditworthiness of businesses. ### How quickly can a DUN'S Number be obtained through expedited services? - [ ] 7 days - [x] Within 24-48 hours - [ ] 14 days - [ ] 60 days > **Explanation:** Expedited services for obtaining a DUN'S Number can usually process the request within 24-48 hours. ### Which information is NOT typically included in the DUN'S database? - [ ] Address code - [ ] Number of employees - [ ] Corporate affiliations - [x] Business revenue > **Explanation:** Business revenue is not typically included in the DUN'S database, which primarily focuses on identification details, address codes, employee count, and corporate affiliations.

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