Business Credit articles from July 2002

Business Credit archives from July 2002

Is one of your customers a "sleeper"? (The Scoop).(fraud detection)(Brief Article)
July 1, 2002... "White Collar Criminals" know very well how the credit review process works. These people are your college educated criminals who typically have above average intelligence. They understand one of the foundations of the credit review process is...

Focus on Mexico. (The Scoop).
July 1, 2002... Mexico's economy dropped in synch with the U.S. downturn, but has recently showed signs of recovery. Economic fundamentals remain sound. Credit conditions have declined, however, and economic and trade reforms have been delayed. Want to learn...

CRF looks at imaging technology in credit and A/R management. (The Scoop).(Brief Article)
July 1, 2002... Document imaging has spread incrementally, growing by 10 to 15 percent a year. Over the last 5 years costs have come down, standards have been formed and the overall technology has greatly improved. With the advent of document and data imaging...

Escheatment. (The Scoop).(Brief Article)
July 1, 2002... A credit professional often manages a portfolio of hundreds of open accounts, with credit extensions that can be in the millions of dollars. With an active trade relationship, the vendor account may periodically have a surplus. On occasion the...

A look ahead. (National Commentary).(National Association of Credit Management)
July 1, 2002... I truly am honored to have been selected to lead our organization as your National President, and I pledge my commitment to each of you that I will continue to enhance our organization. NACM belongs to us-it's about you, the members, about our...

Escheatment. (Legal Jargon).(history and laws)
July 1, 2002... This may come as a surprise if your customer's dormant accounts are used as a source of revenue--it is likely, and in fact inevitable, that those funds must be remitted to the state or federal government. This procedure is known as...

Enron--a case for better understanding of Cash Flows. (Selected Topics).(financial reporting)(Statistical Data Included)
July 1, 2002... Like a fantasy, Enron's "house of cards came tumbling down-driven by an unquenchable thirst of success at whatever the cost. It has been such a disgusting experience to learn how a company could have not only manipulated its financial reporting...

A letter of credit as security for pre-judgment remedy--beware of the expiration date. (Business Law).
July 1, 2002... Introduction A letter of credit (LC) can be an effective device to secure payment of an obligation of a debtor to a creditor. An LC beneficiary obtains payment by presenting to the issuing bank all of the documents required by the LC. The...

Map of the Mainefield: after Enron, credit managers are under even more pressure to find the bombshells in customer's financial statements before they explode.
July 1, 2002... The collapse of Enron followed by the disintegration of Arthur Andersen are grim reminders to credit managers of how much they depend on numbers and how deceptive those numbers can be. As bankruptcies rise, sending credit managers more often to...

Seventeen accounting procedures that put credit managers at risk. (Loss Prevention).
July 1, 2002... It took the terrorist attacks on September 11, 2001 to prove our national security measures were inadequate. It took the bankruptcy of Enron, the largest in U.S. history, to prove that the fundamental auditing processes aren't up to the task of...

2002 Credit Congress & Exposition vendor list.(National Association of Credit Management)
July 1, 2002... Dear Reader, The following pages contain a listing of vendors that exhibited at NACM's 106th Credit Congress and Expo in Las Vegas, June 10-13. The following chart shows the products and services which each vendor provides. For your...

Stan DeGroot.(National Association of Credit Management member)
July 1, 2002... "Participate to help us Renew the Vision, Revive the Spirit and Re-Create Success--for yourself and your association." Some Background More than a decade ago, Stan DeGroot heard about an NACM electrical wholesale distribution trade...

NACM's Credit Congress 2002: highlights from NACM's 106th Credit Congress.(National Association of Credit Management)
July 1, 2002... Session # 9306 First Time Attendee Orientation With more than 400 first time Convention goers on hand, the "First Time Attendee Orientation" served to provide attendees with a jump-start in understanding how to take advantage of the...

Fighting internet credit fraud: problems still remain.
July 1, 2002... The Reality of Internet Theft Theft is a reality of doing business in the offline and online world. Hundreds of millions of dollars are targeted by online thieves every day. Unlike the offline world where cameras, security people or...

The side effects of free trade. (International Affairs Section).
July 1, 2002... For trade pacts like NAFTA, the labor market and pricing issues seemed obvious from the start. Some American jobs would move across borders, and the overall price of the "labor content" of products would decline. The negative consequences to...

Hot spots: Cayman Islands. (International Insight).(Industry Overview)(Statistical Data Included)
July 1, 2002... The economy of the Caymans rests on two industries that are not only its primary pillars but, in fact, its only pillars; namely tourism and financial services. The tiny archipelago in the Western Caribbean (capital: George Town) funds itself...

UCP500. (International Affairs Section).(Brief Article)
July 1, 2002... This eighth commentary on UCP500 examines Article 14. Article 14 It has been reported by the Technical Advisor to the ICC's Banking Commission that approximately a quarter of all queries he receives on UCP500 concern this particular...

Mechanic's liens in Iowa. (Construction Corner).
July 1, 2002... INTRODUCTION Iowa's mechanic's lien statute is a unique creature and does not draw from other statutes (be it state or federal) although the courts will most likely be open to the receipt of persuasive authority to the extent the case law...