Secure your receivables
After evaluating the creditworthiness of your customer, first need is to set up the credit limit and the payment terms in order to ensure that the credit and payment conditions allowed to your customer is consistent with its financial capacities.
The final payment of your invoices is often determined by what has been approved ahead during the trade negotiations.
A good management of trade receivables requires usually anticipation and resolution of potential problems even before delivery and invoicing.
What are the steps to secure the business?
Set a credit limit in line with the financial capacity of your client,
Secure its receivables is linked to several objectives
|There are one or more solutions existing for each objective and for each business relationship. |
Each client is particular. It is therefore interesting to use a wide range of tools to secure your receivables and do business in all quietness whoever is your client.td>
These solutions can be divided into two categories.
Choose wisely the way to secure your receivables. Each relationship is special and every credit difficulty has a solution. This will be determined by the level of risk of unpaid invoices, and the context of your business relationship.
Thus, a bank guarantee will be the best solution in some cases when payment in advance or a delegation of payment will be the best solution in others.
Next: set credit limit
Set up the credit limit
Set up the payment term
Down payment and payment in advance
Delegation of payment
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