There was an issue with saving this content. Please try again.
There was an issue with removing this item from your saved content. Please try again.
A Letter Explaining Credit Limit for a New Account
This letter can be used to ask for additional reference if you don't have enough information to set up a new account.
About this course
| description |
| lessonOverview |
This letter can be used for a new account where credit is established, but with limited information, and you leave the door open for a higher credit line if you can get additional information.
Comments
- The customer, along with the salesperson, is informed of the fact that an account has been established.
2. The customer is told the credit limit assigned to the account (not all companies want to reveal this information; consider that point when constructing a letter like this).
- The customer is also told that he or she will need to pay CIA (or some alternate method such as COD) on any orders over their credit limit.
- The door is left open to the possibility that the credit limit might be increased.
- Note that there are two major risks associated with COD shipments. The first is that the customer's company check will bounce. The other is that the customer will refuse a COD delivery and you will have to pay to get the goods returned.
- The sales manager may want to help by encouraging the customer to provide the information necessary to increase the credit line. Otherwise, competitors might get the business because they aggressively sought out the additional information necessary to consider a larger line.
Note: As always, your company's situation (market, management risk appetite, etc.) and style will be unique so this can serve as a template to get started.
|
|
| instructor |
| name |
title |
image |
description |
Ins |
| Editor |
Highako Academy |
 |
Highako.com is a video-first micro-learning platform trusted by over 10,000+ Credit and Collections professionals. Leverage Highako to drive skill growth with role-specific expert video lessons, and hands-on assessments. Connect and collaborate with the largest credit community and get access to ready-to-use templates. |
|
|
| related |
|
About this course
| description |
| lessonOverview |
This letter can be used for a new account where credit is established, but with limited information, and you leave the door open for a higher credit line if you can get additional information.
Comments
- The customer, along with the salesperson, is informed of the fact that an account has been established.
2. The customer is told the credit limit assigned to the account (not all companies want to reveal this information; consider that point when constructing a letter like this).
- The customer is also told that he or she will need to pay CIA (or some alternate method such as COD) on any orders over their credit limit.
- The door is left open to the possibility that the credit limit might be increased.
- Note that there are two major risks associated with COD shipments. The first is that the customer's company check will bounce. The other is that the customer will refuse a COD delivery and you will have to pay to get the goods returned.
- The sales manager may want to help by encouraging the customer to provide the information necessary to increase the credit line. Otherwise, competitors might get the business because they aggressively sought out the additional information necessary to consider a larger line.
Note: As always, your company's situation (market, management risk appetite, etc.) and style will be unique so this can serve as a template to get started.
|
|
| instructor |
| name |
title |
image |
description |
Ins |
| Editor |
Highako Academy |
|
Highako.com is a video-first micro-learning platform trusted by over 10,000+ Credit and Collections professionals. Leverage Highako to drive skill growth with role-specific expert video lessons, and hands-on assessments. Connect and collaborate with the largest credit community and get access to ready-to-use templates. |
|
|
| related |
|
