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 ?
Credit control firm at heart of allegations GRAVITY Credit Control describe themselves as industry experts in credit control and cash collection.
NEW findings from Satago1, the automated credit control specialists, have revealed the top excuses given to small firms from late-paying customers.
Poor risk management and credit control practices were exposed across many credit unions following the collapse of the financial sector.
BAGHDAD / NINA / The Central Bank / the Directorate General of the banking and credit control / announced on Friday launching of new instructions to banks and approved banking shops to participate in the daily auction for the sale and purchase of foreign currencies.
Shaw's income and credit control section was named In-house Collection Team of the Year (Consumer) by the Institute of Credit Management (ICM) at a London ceremony.
Natalie quit her job in credit control two weeks ago and said: "Chances like this are once in a lifetime."
He describes the characteristics of entrepreneurs, not-for-profit entrepreneurship, the creation and evaluation of business ideas, running the business, information technology strategy, markets and forecasting, pricing, distribution, marketing communications, costing, controlling cash, financial planning, credit control, sources of finance, business entities and names, legal issues, contract law, premises, planning and control of operations and purchasing, safety and quality, financial records and taxation, employees and recruitment, risk management and insurance, expansion, leadership and management, and a systematic approach to growth.
This is the third time for Perng Fai-nan, CBC governor, to roll out selective credit control measures for the housing market since June 2010.
LOCAL businesses are tightening their cash and credit control procedures in a bid to prevent late payments damaging their cashflow, say Coventry experts.
The solution adheres to the latest 3GPP Diameter credit control standards and enables CSPs to deploy new data charging models and create differentiated charging models by extending those standards.
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.

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