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home | Credit Procedures | Credit Procedures Archives

Credit Procedures continued

Displaying Matches 17 thru 21 of 21 Found. BACK

Elements of a Good Credit Application
Before considering establishing an open account, almost every credit department asks applicants to complete and sign a credit application form and credit agreement. Many applicants would prefer to simply provide the credit department with a list of trade and bank references. However, a credit application should be much more than a form to gather bank and trade references. A well-written credit application is a contract between the buyer and the seller. A good credit application will benefit the seller, and a poorly written credit application will almost certainly benefit the buyer. . . . keep reading

An Innovative & Proven Strategy For Solving Collection Problems Before They Occur

In some cases, unanticipated cash-flow problems will slow up a customer's payments. In other cases, the customer never really intended to pay you within terms anyway. There may not be much you can do about the first group. But, as this credit veteran shows, there are ways of solidifying payment commitments up front. When Sales presents her with a marginal account, Credit Manager Mary Lynn Jordan of Projections Unlimited, Inc. sends out when she calls a "goofy little terms letter." It basically says that if payment exceeds 45 days, credit terms (3/10, net 30) may be withdrawn. . . . keep reading

Collecting On Classified Ads
Years ago, Seattle Weekly Newspaper (Seattle, Wash.) had a courtesy $200 credit limit for advertisers. Not anymore. "When I came in, I said, 'This isn . . . keep reading

Checklist of Consignment Considerations
An alternative to shipping material on open account is to ship the material to the customer with title to the material being still vested in the selle . . . keep reading

Five Forms of Prepayment - How Each Works and Some Pros and Cons

For some industries, most notably the mail order business, prepayment before receipt of the merchandise may be the only safe way to sell to customers. For some customers, especially customers who have never had trouble getting open account credit in the past, a request for prepayment may come as an unpleasant surprise. There are some risks in the various prepayment methods. One that is notable is the possible bad check. A high credit risk account may have insufficient cash on hand to cover the check. . . . keep reading

Displaying Matches 17 thru 21 of 21 Found BACK

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