CREDIT MANAGEMENT Clause Samples
The Credit Management clause establishes the terms and procedures by which a party monitors, controls, and limits the extension of credit to another party within a contractual relationship. Typically, this clause outlines credit limits, payment terms, and the right to review or adjust credit arrangements based on the counterparty’s financial standing or payment history. Its core practical function is to mitigate financial risk by ensuring that credit is extended responsibly and that the creditor can take action if the debtor’s creditworthiness declines.
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CREDIT MANAGEMENT. 10.1. Guarantees and security
(a) Fiboss may make supply of Services conditional on you providing to it, and maintaining, security and/or third party guarantees to Fiboss’s reasonable satisfaction.
(b) If Fiboss becomes entitled to suspend or terminate a Service, Fiboss may make the resumption of Service conditional on guarantees in accordance with the Agreement.
(c) Fiboss may use a security payment to offset any undisputed amount that you owe Fiboss, and it will notify you accordingly.
10.2. Credit reports
(a) You acknowledge that the Privacy Act 1988(Cth) allows Fiboss to give a credit reporting agency certain personal information about you and by entering into this Agreement you authorise Fiboss to do so. The information which may be given about you to a credit reporting agency includes the following:
a. The fact that you have applied for credit, and the amount;
b. The fact that Fiboss acts as a credit provider to you;
c. Any payments which become overdue more than 60 days;
d. ▇▇▇▇▇▇’s advice that payments are no longer overdue;
e. In some specified circumstances, whether you have committed a serious credit infringement;
f. That credit provided to you by Fiboss has been discharged.
CREDIT MANAGEMENT. Credit review on all customers should be performed before the opening of any new customer account and on all existing customers at least once a year, with a view to manage the risk of potential bad debt losses. A credit limit must be defined for each customer. These credit limits must be reviewed regularly but no less than once a year by BU and Site Financial Controllers or Credit Managers. Adverse information, whenever received, should trigger an immediate reassessment of the customer’s credit limit (i.e., prior to the next periodic review). BU and Site Financial Controllers and/or Credit Managers must be given sufficient authority to delay shipments to customers perceived as risky until the perceived risk is mitigated or dismissed. Systems should be in place to halt (if possible automatically, otherwise manually) any orders placed that, if invoiced, will put the customer in excess of the approved credit limit level.
CREDIT MANAGEMENT. The Parties shall comply with the provisions of Annex F (Credit Management).
CREDIT MANAGEMENT. (a) Thexchange reserves the right to impose such Corporate Offices ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ lower II, t?' floor ▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ ▇▇▇ +▇ ▇▇▇ ▇▇▇ ▇▇▇▇ +▇ ▇▇▇ ▇▇▇ ▇▇▇▇ Fax New York EDP ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇* ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ ▇▇▇ +▇ ▇▇▇ ▇▇▇ ▇▇▇▇ +▇ ▇▇▇ ▇▇▇ ▇▇▇▇ Fax Los Angeles EDP ▇▇▇ ▇▇▇▇' ▇▇▇▇▇▇ ▇▇▇' ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ ▇▇▇ +1 80O"ARB]NET +▇ ▇▇▇ ▇▇▇ ▇▇▇▇ Fax London EDP ▇▇/▇▇ ▇▇▇▇ ▇▇▇▇▇▇ London EC2A 43H United Kingdom +44 (0) ▇▇▇ ▇▇▇ ▇▇▇▇ +44 (0) 207 ▇▇▇ ▇▇▇▇ Fax Frankfurt vEDP Itenos, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ +44 {0) ▇▇▇ ▇▇▇ ▇▇▇▇ +▇▇ (▇) ▇▇▇ ▇▇▇ ▇▇▇▇ Fax arbinet [LOGO] thexchange Optimize Your World" credit risk reduction management conditions on Member as are detailed in thexchange's Credit Management Policy (attached hereto as Addendum C and as amended from time to time), including, but not limited to, requiring authorized trading deposits, advance payments and letters of credit, as thexchange deems necessary and appropriate. Member agrees to the provisions of the Credit Management Policy.
(b) Changes to the Credit Management Policy will be reflected in the posted policy thirty (30) days before such changes take effect. Member agrees tat notification of Credit Management Policy changes by posting a revised.policy at ▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇ with contemporaneous notification by fax or e-mail to the Primary Contact of Member, will constitute reasonable notice of such changes and agrees to comply with such policy as amended from time to time.
CREDIT MANAGEMENT. To assure the WDC loans are managed and serviced in accordance with the program’s objectives, programs administrative staff will periodically report on all loans serviced to the WDC Board. The WDC staff will review the information to determine if there has been compliance with terms of the loan AGREEMENTS. Credit management will include:
a. Receipt of quality financial statements prepared by an accountant or generated by an accounting program such as Quickbooks.
b. Regular and timely receipt of financial statements.
c. A review of submitted financial information.
d. Verification of financial data by phone and/or onsite visits when warranted.
e. Reviewing the “terms’ of the loan AGREEMENT and other documents with ▇▇▇▇▇▇▇▇ to assure complete understanding of borrower’s obligations.
f. Requiring annual, quarterly, or monthly financial statements from the borrower to assess the ongoing financial position of business.
g. When necessary, conduct technical assistance conferences with borrower to analyze business condition and financial position. If needed, additional technical assistance will be scheduled to mitigate potential problems.
h. When necessary, require or recommend borrower attend seminars or classes in business and/or accounting to improve management ability and repayment ability of borrower in conjunction with approval of loan application.
CREDIT MANAGEMENT. (a) We can make supply of Service conditional on you giving us, and maintaining, security and/or third party guarantees to our reasonable satisfaction. TCP Customers: We will base the requirement for a security on the outcome of a credit assessment conducted in relation to you and the Service you are to acquire.
(b) If we become entitled to suspend or terminate Service, we may make the resumption of Service conditional on you giving us, and maintaining, security and/or third party guarantees to our reasonable satisfaction. TCP Customers: We will base the requirement for a security on the outcome of a credit assessment conducted in relation to you and the Service you are to acquire.
(c) We may use a security payment to pay any billed Charge that is overdue, where you have not disputed the Charge. TCP Customers: Before we access a security payment, we will advise you that it will be accessed within 5 working days and provide you an opportunity to pay within that period.
CREDIT MANAGEMENT.
(a) The provision of services by TransACT Capital under this agreement is subject to TransACT Capital being satisfied at all times of the creditworthiness of the ISP.
(b) TransACT Capital may assess the creditworthiness of the ISP once a year, on or around the anniversary of execution of this Agreement, and at any time if a Credit Review Event occurs.
(c) If, following such an assessment, TransACT Capital believes there is an unacceptable risk that the ISP is or will become unable to pay all amounts payable to TransACT Capital in full and on or before their due date, TransACT Capital may by written notice require the ISP to provide (at the ISP’s expense) a Financial Security within 20 business days.
CREDIT MANAGEMENT. 1. The Corporation will assess all water accounts applications, for affordability in line with the set credit scoring criterion and or set assessment criterion.
CREDIT MANAGEMENT. The Operator shall process the Personal Data according to the Data Protection Act and applicable published legal guidelines and according to the principles, ethics and guidelines of The Malta Association of Credit Management (MACM), ▇▇/▇, ▇▇▇▇ ta’ Mellu, Mosta, of which the Operator is a member. In case of any default in payment by the Customer, the Operator has the right to pass on any information or references to MACM as well as to any third party legally entitled to receive such information
CREDIT MANAGEMENT. 7.1 We have a credit management policy for the Service which is published on our Website. This policy includes notifications to you about the charges you incur whilst using the Service (particularly as you approach or exceed any included value amount) and restrictions to the Service once your unbilled charges exceed certain levels (restrictions may be removed by request and agreement with us). We may change our credit management policy at any time and you agree to our current policy that is published on our Website from time to time.
7.2 There is a time delay between you making a call (or your use of a Value Added Product), us receiving a report of that call (or Value Added Product) from our wholesale supplier and us processing that call (or Value Added Product) and adding it to your account for the Service. This process typically takes between 1 and 5 business days. However, in some rare circumstances this may take longer. This means that you may incur excess use charges as a result of exceeding your included value for your Service before we are able to restrict your Service under our credit management policy. You are liable for these charges and you are always liable for all charges incurred for the use of the Service.