KYC & Compliance

Know-Your-Customer verification and regulatory compliance for secure transactions

Compliance & Know-Your-Customer (KYC) Requirements

At ESPATECH, we maintain rigorous Know-Your-Customer checks, comply with all relevant regulations (EU sanctions, AML/CFT), and perform thorough due diligence on all buyers and suppliers. This ensures secure, transparent, and legally compliant transactions.

Buyer KYC Requirements

For all purchases, we require the following documents from buyers:

📋 Documentation

  • Certificate of incorporation
  • Business registration documents
  • VAT ID / Tax ID
  • Company address proof
  • Company website (if available)

👤 Personal Identification

  • Authorized signatory ID/passport copy
  • Proof of address (utility bill or bank statement)
  • Job title confirmation

💰 Financial Information

  • Bank details (IBAN, SWIFT/BIC)
  • Bank reference letter (if available)
  • Recent bank statements (optional)

✅ Compliance Screening

  • Sanctions list screening (EU/UN/OFAC)
  • PEP (Politically Exposed Persons) check
  • AML/CFT (Anti-Money Laundering) check

📦 Business Details

  • End-use declaration
  • Distribution channel information
  • References from other suppliers

📄 Contracts & Terms

  • Purchase order or LOI
  • Signed sales contract
  • Acceptance of T&Cs

Buyer KYC Checklist

Company registration verified Authorized signatory ID collected
VAT ID validated Bank reference obtained
Sanctions screening passed End-use declaration received
PEP check completed References verified

Supplier KYC & Onboarding Requirements

For suppliers and manufacturers, we require comprehensive due diligence:

🏢 Company & Legal

  • Company registration & incorporation
  • Valid business license
  • Tax ID / VAT registration
  • Factory or office address with photos
  • Export licenses (if required)

🏭 Production & Capacity

  • Factory profile & certifications
  • Production capacity documentation
  • Product line specifications
  • Factory photos (production floor)
  • Quality control procedures

✅ Certifications & Standards

  • ISO 13485 (Medical devices)
  • ISO 9001 (Quality management)
  • CE Declaration of Conformity
  • EN/ISO test certificates
  • Lab accreditation reports

📋 Product Documentation

  • Product data sheets & specs
  • CE test reports & certificates
  • Material safety data sheets
  • Factory packing lists
  • Sample test results

💰 Financial & Banking

  • Bank details & account info
  • Bank reference letter
  • Recent bank statements
  • Payment terms negotiation

🛡️ Insurance & Compliance

  • Product liability insurance
  • Cargo insurance options
  • Compliance certifications
  • References from previous buyers

Our Verification Process

1

Document Collection

Buyer and supplier submit required documents via secure email or portal.

2

Identity & Sanctions Screening

Automated checks against EU, UN, and OFAC sanctions lists. Manual review of high-risk transactions.

3

Document Validation

Verify authenticity of certificates and test reports. Contact issuing bodies if necessary.

4

Sample & Inspection

Arrange pre-shipment inspection and sample testing for new suppliers or large orders.

5

Contracting & Payment

Issue proforma invoice and sales contract with agreed terms (Incoterms, payment, arbitration).

6

Post-Shipment & Feedback

Collect buyer feedback and close transaction with final documentation and future order potential.

Downloadable Templates & Resources

Use these templates to streamline onboarding and documentation:

📋 RFQ Template

Standard form for requesting quotations. Includes all required fields for product specifications and delivery terms.

Download PDF

✅ Buyer KYC Checklist

One-page checklist for quick onboarding of buyers. Covers all required documentation and compliance items.

Download PDF

🏭 Supplier Onboarding Pack

Comprehensive supplier documentation package including contract templates, inspection checklist, and lab test forms.

Download PDF

KYC & Compliance Inquiry

Have questions about our compliance requirements? Contact our compliance team:

Compliance FAQ

How long does KYC verification take?

Typical KYC processing takes 2–5 business days for complete documentation. Expedited processing available for urgent transactions.

Is sample testing mandatory?

Sample testing is required for new suppliers or large orders (>10,000 pcs). Regular suppliers may have reduced testing requirements.

What if my documents are in a different language?

We accept documents in English, German, or other major EU languages. Non-English documents must include certified translations.

Can KYC requirements be waived?

No. KYC requirements are mandatory for all transactions and cannot be waived. They ensure regulatory compliance and transaction security.

How do you handle data privacy?

All KYC documents are handled securely and stored in compliance with GDPR and relevant data protection regulations. We do not share your data with third parties.