Understanding your grade

Two axes, cross-referenced into one letter — never a single score standing in for both.

The free check confirms a certificate exists. The grade goes further: it's a paid, holder-released judgement of whether a company is ready to trade today, on two independent axes.

The two axes

Identity: Confirmed — independent sources agree on who this entity is, with no conflict on an identifying field. Partial — the identity holds but something about it is thinner than policy would like: a stale source, an unwalked ownership chain, an assurance level below the floor. Unverified — no certificate is issued at all; this axis carries the threshold.
Trade: Clear — no hit on the restricted-party lists this engine screens. Watch — something short of a block, travelling as a qualifier. Blocked — a hit that stops the order outright. Not run — the axis was never screened, which is different from clean.

The matrix

Trade risk never revokes a certificate — the entity is still who it says it is — but it does decide whether an order proceeds:

A Order proceedsIdentity confirmed, trade clear.

B Order proceeds, with a qualifierConfirmed identity and a watch hit, or a partial identity with clear trade.

C A person decides before the orderPartial identity, trade not clear.

D No orderTrade blocked, or identity never got past unverified — either one is enough on its own.

— Not gradeable yetAn axis was never run. The engine doesn't fill in a guess for a check it didn't do.

What the grade doesn't include

Not the factors behind it — those are in the full dossier only, so a reader who wants to interrogate the judgement rather than just trust it can ask for that instead. And never our own internal rationale for approving or declining a counterparty — you're entitled to the facts and the verdict, not to our reasoning about them.