What is a Counterparty?
A counterparty is the business or individual your customer sends money to or receives money from. Think of it as your customer’s:- Vendor - Who they pay for goods/services
- Supplier - Who provides materials or products
- Contractor - Who performs work for them
- Client - Who pays them for services
Key differences: Customer vs. counterparty
| Aspect | Customer | Counterparty |
|---|---|---|
| Who are they? | Your direct client (the business using Conduit) | Your customer’s business partner |
| KYB Required? | ✅ Yes - Full KYB verification required | ❌ No - Basic information only |
| Compliance | Must pass compliance review | Minimal compliance checks |
| Payment Methods | Bank accounts, Crypto wallets, Virtual accounts | Bank accounts, Crypto wallets |
| Features | Can be recipient and sender of funds | Typically the recipient of funds |
- Customer: TechStart LLC (your client )
- Counterparty: Office Supplies Inc. (TechStart’s vendor they pay monthly)
What details are required to create a counterparty?
Business counterparties
| Field | Description | Example | Required |
|---|---|---|---|
type | Must be “business” | "business" | ✅ Yes |
businessName | Legal business name | "Office Supplies Inc." | ✅ Yes |
address | Business address | See below | ✅ Yes |
email | Contact email | "[email protected]" | ❌ No |
phone | Contact phone | "+1234567890" | ❌ No |
identificationType | ID type (e.g., EIN) | "EIN" | ❌ No |
identificationNumber | Tax ID or EIN | "12-3456789" | ❌ No |
website | Company website | "https://supplies.com" | ❌ No |
customerId | Associated customer ID | "cus_xxxxx" | ✅ Yes |
paymentMethods | Payment method details | See below | ✅ Yes |
Individual counterparties
| Field | Description | Example | Required |
|---|---|---|---|
type | Must be “individual” | "individual" | ✅ Yes |
firstName | First name | "John" | ✅ Yes |
lastName | Last name | "Doe" | ✅ Yes |
address | Residential address | See below | ✅ Yes |
email | Contact email | "[email protected]" | ❌ No |
phone | Contact phone | "+1234567890" | ❌ No |
birthDate | Date of birth (YYYY-MM-DD) | "1980-01-15" | ❌ No |
nationality | Country code | "USA" | ❌ No |
identificationType | ID type (e.g., SSN) | "SSN" | ❌ No |
identificationNumber | ID number | "123-45-6789" | ❌ No |
customerId | Associated customer ID | "cus_xxxxx" | ✅ Yes |
paymentMethods | Payment method details | See below | ✅ Yes |
Country-specific requirements for counterparties
These fields are required at the counterparty level to ensure local rails and compliance checks can be completed.| Country | Required Fields | Identification Types |
|---|---|---|
| Brazil | BusinessbusinessName ,website, email ,identificationType, identificationNumber, address.streetLine1 ,address.city address.state, address.postalCode, address.countryIndividual firstName ,lastName, email, birthDate,identificationType, identificationNumber, address.streetLine1 ,address.city address.state, address.postalCode, address.country | BusinesscnpjIndividual cpf |
| Colombia | BusinessbusinessName ,website, email , phone ,identificationType, identificationNumber, address.streetLine1 ,address.city address.state, address.postalCode, address.countryIndividual firstName ,lastName, email, phone,birthDate,identificationType, identificationNumber, address.streetLine1 ,address.city address.state, address.postalCode, address.country | BusinessnitIndividual nit, cc, ce, passport |
| Mexico | BusinessbusinessName ,website, identificationType, identificationNumber, address.streetLine1 ,address.city address.state, address.postalCode, address.countryIndividual firstName ,lastName, birthDate,identificationType, identificationNumber, address.streetLine1 ,address.city address.state, address.postalCode, address.country | BusinessrfcIndividual rfc, curp |
| Other Countries | BusinessbusinessName ,website, identificationType, identificationNumber, address.streetLine1 ,address.city address.state, address.postalCode, address.countryIndividual firstName ,lastName, birthDate,identificationType, identificationNumber, address.streetLine1 ,address.city address.state, address.postalCode, address.country |