Credit Clinic - give your credit control policies a 'check-up' today
The following documents have been added here to help you make better informed business decisions:
1. Credit Control
Why should you have an effective control policy?
What should your credit policy contain?
How can you assess what a customer is worth?
How do you assess your customer's credit risk?
What should your Terms and Conditions of Sale contain?
Why is your sales ledger important?
Why should you take up bank and trade references?
Some practical advice on collections.
2. Legal Issues
Why should your customer's identity be important?
Confusion over trading names.
Business Names Act 1995.
Why should you have a written contract?
How can you implement your credit terms with a new business?
The Battle of the Forms - whose terms and conditions apply?
Retention of title.
Limited liability partnerships.
3. Basic Legal Resources
How to collect outstanding accounts.
How should you deal with Post Dated Cheques?
What should you do if your customer's cheque bounces?
What should you do if you are unable to contact the payer?
Guarantees in General.
How to secure payment from third parties.
Third party guarantees.
Practical advantages of third party guarantees.
Parent company guarantees.
Calling up the guarantee.
If you feel you would like slightly 'softer' demand letters than the ones found within recovering your cash yourself then you can try the 1st, 2nd and 3rd credit control letters found at the end of the following list. Alternatively, have a browse through some of the useful credit control documents below.