Credit policies establish a framework or guide for consistent credit decisions directed toward attaining the goals established by the company. This learning module discusses the Purpose of the Credit Application, the Credit Application as a Source of Information, the Credit Application as a Contract, Bank and Trade Reference Releases, Personal Information and Privacy Laws, Terms and Conditions of Sale, Venue Provisions, Shipment Terms and Title to Goods, What’s Below the Signature Line, the Fair Credit Reporting Act, the Equal Credit Opportunity Act (ECOA), and Escheatment. After successful completion of this learning module the student should understand the purpose of a credit application, the importance of knowing the legal business entity of a customer, how to create a credit application, when you will need a new credit application, terms and condition of sale, what venue means and its importance, buried language in a credit application, the FCRA and ECOA, and Escheatment.
Speaker Bio:
Debie Wangsgard, CCE, has a Bachelor’s degree in Business from Westminster College and has been working in the field of credit for over 32 years , first working in the construction industry, and then as the Corporate Credit Manager for Swire Coca Cola, and most recently for Stock Building Supply in the Credit Training Department. She was recognized as Instructor of the year in 2008 by NACM Business Credit Services. She has given numerous seminars, online webinars, and developed over 40 training programs to strengthen credit managers in their profession and has taught CAP classes for