GUIDELINES & STANDARDS Sample Clauses

GUIDELINES & STANDARDS. A. New Customers and Credit Limits

GUIDELINES & STANDARDS. Not applicable.

GUIDELINES & STANDARDS. A. New Customers and Credit Limits 1. It is the responsibility of the local credit function to approve all new customers before they are available to place orders. 2. All customers are required to have an approved credit limit established and maintained. The customer should be notified, if appropriate, of their credit limits and any subsequent changes. 3. In determining the appropriate customer’s credit limits, the credit function should review customer financial information such as financial statements and credit reports. In addition the business manager should be consulted, as needed, regarding expected level of business for the customer. 4. All orders require the approval of the local credit/collection functions before shipments can be made. Approval should preferably be obtained prior to order entry. 5. In some cases, the credit/collection function may pre-authorize certain customers, thereby exempting the operation from obtaining daily approval for those pre-authorized customers. 6. Credit limit approval including changes to existing credit limits will be determined for both new and existing customers. Any new or changes to the customer credit limit requires the approval of the local credit representative in accordance with the level of approval the local credit representative has been delegated. The Chief Financial Officer and Corporate Treasurer are responsible for delegating the credit limit approval levels. Local approval levels will be formally established and approved by the Corporate Treasurer and reviewed at least annually. 7. If circumstances arise where operations disagrees with the credit/collection function’s decision at the local and regional levels regarding the establishment or change in customer credit limits or decision to hold or release orders, the issue may be brought to the attention of the Corporate Treasurer or Chief Financial Officer, and any authorization by the Corporate Treasurer or Chief Financial Officer will be confirmed in writing. 8. For active customers the credit limit should be monitored and evaluated on an on going basis. For customers who have not had sales activity within the last twelve months, a complete credit limit review should be performed before resuming shipments. B. Standard Third Party Customer Payment Terms 1. Standard customer payment terms are established by the Senior Management Committee based on recommendation from the Corporate and Regional Credit organizations.

GUIDELINES & STANDARDS. The Licensee agrees that it will operates its Education & Training Centre in accordance with the standards, specifications and procedures and guidance set up by the Licensor from time to time. The Licensee agrees further that changes in such standards, specifications and procedure may become necessary from time to time and agrees to accept such modifications, revisions and additions to the guidelines which the Licensor in good faith and in the exercise of its commercial judgment believes to be necessary. The Licensee agrees not to deviate from the standards as set out in the Manuals.