When a buyer's Know Your Business (KYB) verification fails or requires updates, you may need to correct their company information such as legal name, address, or other details. Here's how to handle common scenarios:

Common issues and how to solve them

Legal Address Mismatch

The most common issue is address mismatches. The address submitted must match the one registered with the Secretary of State or official business registry.

Important: We are required to use the incorporation address that matches the official business registration documents, not operational or office addresses, for compliance purposes.

To request an address update:

1. Verify the correct registered address through official sources like OpenCorporates or Secretary of State records

2. Contact support with the correct registered address

3. Support will update the address and re-run the KYB approval

Legal Name Updates

If the legal name doesn't match business registry records, you'll need to provide the exact legal name as it appears on incorporation documents.

Common scenarios include:

• Company name changes or rebranding

• Incomplete legal names (missing "Inc.", "LLC", etc.)

• DBA names vs. legal entity names

State/Jurisdiction Corrections

Sometimes the state of incorporation may be incorrect. For example, a company website might show one state while they're actually incorporated in another. Always verify the actual state of incorporation through official business registries.

What Information to Provide

When requesting updates, include:

• Legal Company Name (exactly as registered)

• Complete registered business address

• Official website (if applicable)

• Reference to the official business registry, if available

Limitations

Note that certain business structures cannot be processed:

• Sole proprietorships are not currently supported

• Companies incorporated for less than 6 months may require additional review

Input Required: Updating buyer's company details

For some updates, such as payment dates, you can make changes yourself in the vendor dashboard during the buyer qualification. However, any changes for companies with active orders must be handled by support for compliance reasons.

If you need assistance with updating buyer information, send us a message at support@capchase.com.