credit control


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credit control

  1. the control exercised by a firm over its TRADE DEBTORS to ensure that customers pay their debts on time and to minimize the risk of BAD DEBTS. Credit control involves: assessing the creditworthiness of new and established customers to determine borrowing limits and terms; encouraging prompt payment by offering cash discounts and monitoring and recording payments due; the recovering of bad debts. Effective credit control minimizes the funds which a firm has tied up in debtors, so improving profitability and LIQUIDITY. See FACTORING, DEBTORS RATIO, WORKING CAPITAL RATIO.
  2. the regulation of borrowing from the COMMERCIAL BANKS, FINANCE HOUSES, etc. by the monetary authorities in order to exercise control over the level of spending in the economy. See MONETARY POLICY.
References in periodicals archive ?
The arrival of credit controller Sophie Dalton and credit control apprentice Chantelle Wellington means the department now has a 12-strong team.
Services on offer include outsourced credit control, debt recovery, debt verification as well as audit and collectability reviews.
Perng noted that the CBC decided to put luxury houses into the scope of credit control, in response to the request of domestic banks for the formation of a consistent norm.
Mr Hall added: "In terms of credit control there are a number of actions a firm can make to ensure cash flow is strong.
It recommends that businesses take a more proactive stance in order to limit the number and impact of late payments and has developed a list of initiatives that business owners can implement in order to address this issue, such as agreeing realistic payment terms upfront; making it easy to be paid; credit check new customers; have a clear procedure for credit control and don't be afraid to take action.
Norman Pinnegar, 70, a retired credit control manager, of Norton, said: "I think anything that helps people reduce their salt intake is good.
The expense and hassle of chasing outstanding invoices is taken on by the factoring provider which undertakes the credit control and collections function, enabling owners and managers to eliminate the need to set up a credit control function and eradicating the troublesome issue of late payment, allowing them to get on with what they do best - driving their business forward.
Now his working week consists of offering a range of finance, venture capital and business advice plus support services such as bookkeeping, finance, insurance, recruitment, training, credit control and payroll.
Our customers value connectivity and ease of payment and at Zain we have used the most modern technology to ensure that Zain Bahrain customers can track and pay their telecoms bills easily," said Younis Ahmed, Zain Bahrain's credit control and collection manager.
GE Capital International has brought in senior management and expertise to improve the bank's credit control and risk management
But the service is now available to subscribers who will be able to access information on more than 6m constantly updated records of businesses throughout the country looking at sales, credit control, collection, risk and compliance.
Accounts, invoicing, subscription management and credit control, will be taken over by my (long suffering?

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