Why choose SICA as my source of credit information?

SICA provides the most up to the date credit information in the sporting goods and footwear industry.

What differentiates SICA from other credit bureaus?

We are a not for profit member owned credit association representing the majority of A/R dollars in each industry sector. SICA’s cutting edge reports provide the necessary tools to make informed credit decisions.

How many reports can I pull?

You have unlimited access to the database, therefore there is no limitation on the number of reports you can pull.

How will your credit report help me?

SICA’s credit reports contain a vast amount of information that will assist you in your credit decision process. The reports contain the retailer’s payment trends, credit meeting history, collection and returned cheque history, displayed to allow you to easily make a credit decision...

What is the Activity section?

The activity section is a timeline of the events that have transpired with this retailer over the last five years. It includes returned cheque activity, collections, and special updates, risk/operating trend changes or status changes.

Where does the information in the report come from?

SICA’s members in all industry sectors report their receivables on a monthly basis. Members report their returned cheques, final demands, and collections on a regular basis. There are also over 30 industry sector meetings held annually and attended by major suppliers. In addition to member participation SICA’s investigative team is proactive and adds special updates when contacting downward trending retailers, representing its members in insolvencies and providing updates on retailer changes.

What is the SICAdex?

The SICAdex is a proprietary scoring system developed by SICA in order to show the payment performance of a retailer with its suppliers. The score encompasses all suppliers from all industry sectors.

How is the SICAdex calculated?

The SICAdex is calculated based on the weighted average of the accounts receivables submitted by its members. The more dollars that are past due and the older it is, the higher the SICAdex Score. The range for the SICAdex score is 1 to 100 with 1 being the best and 100 the worst score. There is also a filter that takes into account seasonality that is factored into the score.

How often is your score updated?

Our Score is updated every month based on the A/R data received from our members

What is the credit meeting live?

The credit meeting live is a tool where members exchange up to date credit information in a real time confidential environment.

Are credit meetings held in each industry sector?

Yes, we hold approx. three credit meetings per year in each industry sector (i.e. snow, footwear, golf, bike, hockey, team sport, etc.).

Where can I view past meeting information?

All meeting history is added to the retailer’s credit report after the meeting takes place. You can also view past meeting books in the credit meeting history section only if you participated in the meeting(s).

Who selects accounts that are discussed at a credit meeting?

Members can add accounts for discussion to the meeting. SICA also has an algorithm that will auto select accounts that are downward trending or have had recent returned cheque activity. If there are accounts that a member would like to add after this deadline to add accounts have passed they can add it to the round table discussion, which takes place after the official list of accounts for discussion is finished.

Am I eligible to become a member?

Manufacturers and distributors are eligible to become members. Retailers are not allowed to join SICA.

What is the cost of the membership?

We have different packages depending on certain factors such as sales volume, country and industry sector; please contact our office for further details.

What does the membership include?

Unlimited access to credit reports, account monitoring, daily flash reports with updates, access to credit meetings, and much more.

How do I become a member?

Simply click on the following link to complete the membership application. You will then be contacted by a member of our team.

Can I get a demo?

Yes, please contact a member of our team and we will provide you with a web demo.

Can I get a sample Report?

Yes, please click here to request a credit report.

What is account monitoring?

This feature allows our members to have their accounts monitored for any updates or negative events (nsf’s, collections, store closing, etc.)

Is account monitoring live?

Yes, members are notified on the same day of any updates.

Can I change my monitoring Criteria?

Yes, there is a dropdown menu that allows you to change certain monitoring criteria.

How does the Account Monitoring differ from the Flash Bulletin Board?

The account monitoring includes only accounts that are part of your last 2 months a/r files submitted to SICA and the additional accounts added to your monitoring list. The Flash Bulletin Board shows all the day’s entries on all accounts. The Flash Bulletin is limited to only status changes, returned cheques, collections, and financials received and special updates, while the Account monitoring has additional monitoring criteria.

What if I hear that someone is closing or bankrupt?

Please notify SICA immediately. SICA’s investigative team will look into it and will advise its members of its findings.

Who determines which accounts to investigate?

Members can report many types of information to SICA such as possible change in ownerships, store closures, payment downtrends, etc. SICA’s investigative team will then contact the retailer and provide an update to all members once investigation is complete. SICA also is pro-active and will investigate seriously downward trending accounts in order to obtain additional financial information that would be added to its reports.

What is the peer member exchange?

The peer exchange is a feature available to our members on our website which enables them to communicate interactively. This feature is used for discussion forums, credit reference requests and Live chats.

Can I contact someone outside my industry sector?

Yes, SICA’s network allows all members the opportunity to share information and knowledge with your peers in cross industry sectors.

Can I request a credit reference if I am not a member?

No, the credit reference requests are exclusive to our members only.

Can I use any browser to access your website?

The SICAWEB application is compatible with most popular internet browsers; Internet Explorer (Version 9 and above in compatibility mode), Chrome, Firefox* and Safari*. *(You may experience some minor compatibility issues)

What are the benefits of sending an A/R file each month?

Submitting your A/R file each month:

• Automatically puts your accounts on the monitoring list, therefore, should any negative occurrences take place you will be notified immediately.
• Allows access to delinquency reports, where you can measure your accounts performance with your company versus the industry.
• Makes it quick and easy for you to input your figures to credit meeting(s) via our automatic upload option.

I am interested in providing SICA with my A/R data each month, how do I go about that?

For information on sending SICA you’re monthly A/R file, please contact Lillian Pacheco our A/R File Coordinator by emailing lillian@sica.ca or by calling (514) 931-5561.

What formats are accepted?

We accept a wide range of file types such as text, Excel (.csv), .prn.

What role does SICA play in insolvency issues?

SICA will represents its members in Canadian insolvency cases (i.e. bankruptcy, receiverships, proposals) in order to maximize any potential proceeds.

Should I notify SICA when I hear of insolvency?

Yes, please do so immediately as there can be a potential for recovery of 30-day goods in cases of bankruptcies and receiverships.

Do you offer a collection service?

Yes, SICA offers a third party collection service exclusively to its members.

What are the rates?

Our members benefit from preferred rates, for more information, please contact SICA

How can I determine the correct legal name of a retailer?

SICA provides access to links that allow for free access to corporate searches. For those provinces who don’t offer free corporate consultation services, you can request SICA to perform a corporate search on your behalf (fees applicable).

How can I find out who is a secured creditor?

SICA can perform a security search on your behalf that will list all the secured creditors of your customer (fees applicable).

Does SICA have a legal network of lawyers?

Yes, we have a legal network of lawyers and attorneys across Canada

Does SICA have its own legal counsel?

Yes, SICA has its own legal counsel who is a member of Mackrell International, an international legal network of legal firms in 60 countries and 90 jurisdictions and can therefore offer to SICA members’ international representation.

Does SICA provide bank reports?

SICA is associated with a third party provider who can order bank reports on your behalf as long as you provide a signed authorization from your client that allows for a bank report to be done on them (fees applicable).