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This is a well-crafted credit policy of a major appliance distributor.
Line of business: Distributor
Length of document: 10 pages
Highlights: This credit policy includes:
- specific procedures for establishing new accounts
- details on how credit limits are established (by whom, sources of info, etc.) and monitored
- how they implement floor planning
- how they use credit insurance
- details on the order-release procedure
- collection procedures
- procedures for turning accounts over to attorneys
- approval levels and details on how adjustments can be made to a customer account
- credit card acceptance procedures
As always with a document such as this, this should serve as a great source of ideas - at the very least a starting point from which to build or improve your own policy.
Credit Policy for Credit and Collections Department
Credit policy and procedure manual gives a detailed perspective on integrated credit, order release, collections and customer trade lines.
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