Collaborative business process can become unreliable when business partners collaborate in a peerbased fashion without central control. Therefore, reliability checking becomes an important issue that needs to be dealt with for any generic solution in managing business collaboration. In this paper, we propose a novel Choreographical Business Transaction Net (CoBTx-Net) to model collaborative business process and to manage the collaboration by individual participants. Furthermore three reliability properties named Time-embedded dead marking freeness, Interorganizational dead marking freeness, and Collaborative soundness are defined based on CoBTx-Net to verify (1) the violation of time constraint, (2) collaborative logic conflicts, and (3) the improper termination from individual organizations.