A properly completed and executed credit application, as well as thoughtful and comprehensive terms and conditions, play a critical role in protecting creditors’ rights when dealing with new and existing customers. This program starts with a discussion of the key contents of a credit application and its importance to a creditor’s decision to extend credit, collecting its claim, and utilizing the risk mitigation tools it may have negotiated (such as a letter of credit, credit insurance, consignment and security interest, and guaranty). The speakers will then discuss the importance of including favorable, carefully crafted terms and conditions as part of a credit application and any other contract with the customer to maximize collectability and minimize liability. The speakers will cover the steps creditors should take to ensure their terms and conditions are enforceable and minimize the risk of a battle of the forms. Examples of key terms will also be provided along with a discussion of how those terms can be incorporated as part of the credit application and other contracts.

Speakers: