Business Credit articles from June 2004

Business Credit archives from June 2004

Become an advocate for business credit!(the scoop)(Brief Article)(Advertisement)
June 1, 2004... NACM's Annual Legislative Conference provides you with a first-rate opportunity to convene with other business credit executives and learn about current legislation and ways to impact it for the benefit of the business credit field. No other...

A credit professional's resource 24/7.(the scoop)(Brief Article)(Advertisement)
June 1, 2004... How many times have you spent virtually all day trying to locate one vital piece of information you need to complete a task? Time goes so fast when you have little to spare. End your frustration now! At the click of your mouse, you can have...

Delivering high value performance and results.(the scoop)(Brief Article)(Advertisement)
June 1, 2004... Through its extensive Certification Program, NACM provides opportunities to credit professionals to maximize and certify their expertise--and provides additional reasons for employers to hire them. In addition, the program enables organizations...

Fraud by phone.(the scoop)(Brief Article)
June 1, 2004... In general, the receipt of a phone order is not cause for alarm. In most lines of business, a substantial volume of sales are generated by orders that are phoned in. However, there are several reasons why a fraud artist will conduct business...

Career resources.(the scoop)(Brief Article)
June 1, 2004... NACM's Career Center provides a web site service to meet the needs of the organization and the individual. Find a highly qualified credit professional with years of expertise, a new graduate, an employee with NACM certification, or a consultant...

NACM calendar.(Calendar)
June 1, 2004... JUNE June 2, 2004 FCIB Book Publishers Export Credit Group Meeting Time Life Building, New York, NY For more information, please contact FCIB. June 7, 2004 Teleconference: Hot Topics and Current Cases in Bankruptcy Presenter: Wanda...

One year.(Credit Column)
June 1, 2004... In one way, a year can seem like a long time; but then at other times, it goes by so fast that it is hard to believe. My year as NACM Chairman seemed to go by very fast, maybe because the job does consume so much time and energy that time...

Credit risk: so far so good.(Credit Column)
June 1, 2004... Introduction Managing credit risk has always been a most risky business in the financial services industry. If we look back into the past, we will find that poor management of credit risk was the root cause of most of the major banking...

Achieving corporate ethics standards a gradual, deliberate process within U.S. companies: new survey finds multiple Sarbanes-Oxley obligations create challenges.(Required Reading)
June 1, 2004... Newly released research from Deloitte & Touche LLP finds that while most companies have taken the initial steps toward establishing a code of ethics, a limited number are actively monitoring adherence to the programs. In a detailed...

Due diligence for risk management.
June 1, 2004... In an ideal world, credit managers would only grant credit to sterling, rock-solid customers--decisions would he straightforward and defaults would be rare. Sadly, the reality is that most companies are obliged to sell to excellent, fair and...

The real cost of outsourcing: the good and bad.(Communique)
June 1, 2004... What is the real cost of outsourcing? Conflicting reports from respected sources can heighten any company's anxiety over the decision to embark on an outsourcing initiative, particularly if it involves offshore outsourcing. On the one hand,...

PACA rights destroyed by oral agreement extending payment terms.(Credit Column)(Perishable Agricultural Commodities Act )
June 1, 2004... Introduction The Perishable Agricultural Commodities Act ("PACA") confers a preferred "super-priority" status upon eligible sellers of fresh produce. They are the beneficiaries of a trust, consisting of all of the buyer's perishable...

Collateral monitoring: the example of wholesale product inventory.(Selected Topic)
June 1, 2004... Introduction Conducting initial due diligence with an eye toward ongoing collateral monitoring is critical to managing risk over the life of the loan. The lender establishes the borrowing base structure, reporting requirements, and...

A great reputation speaks for itself.
June 1, 2004... For more than 50 years, Robert Haft Finance & Accounting has been the world's first and largest recruiting firm specializing in the placement of accounting and finance professionals. Listed below is a sampling of positions available through...

Utah mechanic's lien and construction bond.(Lien Law Update)
June 1, 2004... The Utah 2004 legislature passed and the governor signed, several bills affecting mechanic's liens and construction bonds. All but one of the bills took affect May 3, 2004. A bill regarding an electronic filing registry provides for development...

Risk-based pricing--commercial lending and trade credit.(Selected Topic)
June 1, 2004... Risk-Based Pricing Credit approval is one of the most important processes for commercial lenders, as it is their primary source of income. It is equally important for many other businesses since it supports a positive vendor-customer...

Trade finance product enables credit managers to effectively manage DSO, credit risk and cash flow.(Selected Topic)(Days Sales Outstanding )
June 1, 2004... There is now an innovative financial solution that improves the working capital and cash flow impact of the accounts payable market. Trade Payables enables credit managers to take control of their accounts receivable turning them into a more...

Deductions management.
June 1, 2004... Every company in the world that sells into retail channels knows the challenges of doing business with retailers. As a result of the fierce competition for shelf space, companies have been forced into many costly concessions, resulting in...

Meet Nancy Watson-Pistole, CCE.
June 1, 2004... Nancy graduated front Central Missouri State University with an Associate's degree in 1978, and immediately started working in administration for a manufacturer of pre-engineered steel buildings. Within a year, she transferred to the Credit...

European Union enlargement.(Communique)
June 1, 2004... On May 1st, 2004 the European Union welcomed 10 new countries. This historic integration marks the reunification of Western and Eastern Europe and an extension of the EU towards Southern Europe. The countries are: Cyprus, Czech Republic,...

Risk in a global marketplace.(Credit Basics)
June 1, 2004... The framework in which international credit operates is based upon conventions, laws, culture, mores, and regulations. This framework provides the mechanism to consider risk while establishing credit arrangements. Credit managers face the...

At a glance: worldwide credit conditions.(Illustration)
June 1, 2004... ECONOMIC GROWTH GDP % change from previous quarter Q2 03 Q3 03 Q4 03 Q1 04 U.S. 0.8 2.0 1.0 1.0 Canada -0.1 0.3 0.4 Mexico 0.2 0.4 1.2 EU 15 ...

Hot spots: Panama.(International Section)
June 1, 2004... Dr. Belcsak is president of S.J. Rundt & Associates, Inc. Telephone: 973/783-5206; fax: 973/744-3073; e-mail: info@rundtsintelligence.com; web site: www.rundtsintelligence.com. Newly elected President Torrijos' political honeymoon will be...

Export regulations and compliance.(International Section)
June 1, 2004... U.S. export laws and regulations are far-reaching and have become more so in recent years. Even large, sophisticated U.S. companies with substantial resources and compliance programs occasionally run afoul of the law and face time-consuming...

Using "flash" reports to gain an early indication of financial performance.(Communique)
June 1, 2004... Only 46 percent of senior executives in Europe say their company uses "flash" reports to gain an early indication of financial performance before their books are dosed, according to PricewaterhouseCoopers. In the U.S., 75 percent say their...

U.S. Small Business Administration (SBA) proposes new rules simplifying standards used to determine size of a small business.(Communique)(Brief Article)
June 1, 2004... The U.S. Small Business Administration (SBA) is proposing new rules that will simplify the standards by which the SBA determines the size of a small business. If the rule is adopted, the SBA's size standards will undergo a major restructuring....

PMSIs under the Ontario PPSA--special priority for suppliers.(International Section)(purchase money security interest )
June 1, 2004... Suppliers of goods take note! Establishing a valid purchase money security interest (PMSI) in goods financed by the supplier is well worth the extra time and effort. PMSI status is one of the protections afforded to suppliers under Ontario law...

Unchanged purchase order numbers and fraud indicators.(Required Reading)
June 1, 2004... When the second purchase order slid across the credit manager's desk, he scratched his head and started to wonder, "How come we've received two almost identical purchase orders from two supposedly different businesses within a month of each...

Perspectives on risk: building a risk intelligent organization.
June 1, 2004... Then: Structure and Stability Most contemporary risk management strategies are built around the way it used to be. Like today, yesterday was a world of connections. We were bound together by geography, religions, cultures, crises and...

The do's and don'ts of collections.(Credit Column)
June 1, 2004... For many companies one of the most important, but least pleasant, aspects of the business are collections. Past due receivables can be the cause of cash flow related problems and missed financial targets, while collecting these receivables can...

Oklahoma fair pay in construction act becomes law.(Lien Law Update)(Brief Article)
June 1, 2004... Subcontractors in Oklahoma secured an important victory, on May 5, when Oklahoma Gov. Brad Henry (D) signed into law S.B. 1561, a prompt payment bill supported by ASA of Oklahoma. The law requires that all payments to subcontractors, on all...

Kansas anti-indemnity legislation becomes law.(Lien Law Update)(Brief Article)
June 1, 2004... On April 14, Kansas Gov. Kathleen Sebellus (D) signed H.B. 2154, an anti-indemnity bill applying to public and private construction contracts. The new law makes progress by limiting the use of hold harmless terms. However, the law preserves a...

Assessing profitability: shortfalls of traditional measures.(Selected Topic)(Earnings Before Interest Taxes and Depreciation)
June 1, 2004... Earnings Before Interest Taxes and Depreciation. Sounds simple, right? Tiffs is not always the case. Lenders, investors, management and other interested parties use EBITDA as one of the key measures of financial health. But how reliable is it?...

Are you really listening to your customers?(Credit Column)
June 1, 2004... You may think that you're listening to what your customers have to say but, if you're like many business owners and managers, what you aren't hearing is hurting your ability to provide first-rate customer care. Let's take a look at how a couple...

Pleading the preference claim: is it getting easier for the bankruptcy trustee?(Credit Column)
June 1, 2004... Credit professionals are finding ever more frequently that the bankruptcy trustee (in Chapter 7) or litigation trustee (often in Chapter 11) view preference claims as a significant asset of the bankruptcy estate. The credit professional is...

Us vs. them: how to deal with personality clashes between credit and sales.(... Working Together)
June 1, 2004... In order for your organization to maximize its revenue and cash performance, building and maintaining a solid and positive relationship between your credit and sales teams is key. Personalities or characteristics play a big role in building...