by Nancy Seiverd | Nov 8, 2023 | Poll
Letters of credit (L/C) are still commonly used for cross-border transactions in international trade. As you may recall, an L/C is a financial document provided by a buyer’s bank to the seller, guaranteeing payment for goods or services once certain conditions...
by Nancy Seiverd | Oct 11, 2023 | Poll
Performing a credit check on the owner of a small enterprise can be a prudent step in certain situations, but it’s essential to consider legal and ethical aspects and to ensure that it’s relevant to the business relationship. Here are some factors to...
by Nancy Seiverd | Sep 6, 2023 | Poll
This is one of those situations in which several factors are involved. For example, if the customer has been long term, has contributed substantially to your sales, growth, and profits, you probably don’t have much of a choice but to extend payment terms to 60...
by Nancy Seiverd | Aug 20, 2023 | Poll
There are many times when third party collection providers hear from the client’s debtor that the reason they haven’t paid is because they’re still waiting for their own outstanding receivables to be paid. Upon hearing this, on a case-by-case situation, it may be...
by Nancy Seiverd | Jul 3, 2023 | Poll
Trade references can be valuable in certain situations, especially in business-to-business transactions. A trade reference is essentially a recommendation or feedback from one business to another, providing information about the creditworthiness, reliability, and...
by Nancy Seiverd | Jun 6, 2023 | Poll
When economic times get tight and companies are vying to take business from their competitors, there may be a tendency for credit decisions to take a back seat to sales, especially on a potential customer that truly is not creditworthy. At first blush, it may...
by Nancy Seiverd | May 2, 2023 | Poll
I was talking with a client recently and they mentioned how they misapplied a payment received from Customer A to Customer B. From time to time this happens in every organization, especially if company names are very similar. However, if Customer B sends in their...
by Nancy Seiverd | Apr 4, 2023 | Poll
As per Investopedia, “A certificate of insurance is a document provided by an insurance company, agent, or broker to prove the existence of an insurance contract between the insurer and the insured. It includes such information as the name of the insurer and...
by Nancy Seiverd | Mar 7, 2023 | Poll
An associate of mine was telling me about the Customer Relationship Management (CRM) platform they implemented last year and all the problems they are having with it. But the biggest problem is the lack of customer service and technical support to resolve the ongoing...
