1

In business-to-business credit granting, can the credit department withdraw or reduce open account terms at any time for any reason or for no reason? I think most people would say ‘Yes’. In my opinion, the answer is ‘Maybe’. For example: You cannot reduce or withdraw open account terms if the decision to do so is […]

Continue Reading

0

by Matt Fluegge, Vantiv You may have heard there’s a change coming to the way many businesses accept card payments. The U.S. is in the process of transitioning away from the magnetic stripe cards we’re all familiar with, and moving toward installing small microchips into the cards – also known as chip-and-sign. If you’ve already upgraded […]

Continue Reading

0
Scott Blakeley, esq.

By Scott Blakeley, Esq. Blakeley & Blakeley, LLP Apple has made a media splash with its announcement of Apple Pay, the latest foray of a tech company entering the mobile card payment space. While the B2B space has been slow to embrace electronic payment channel alternatives, especially those designed for smart phones and tablets, these […]

Continue Reading

3

My Favorite Payment Excuses The check signer is: …sick …dead …retired …suspended …on vacation …on maternity leave …not taking calls from creditors …away from his/ her/ its desk… or …Dying or Lying Payment is: …in the mail …lost in the mail …going to be mailed …Gone with the wind In order to issue payment to […]

Continue Reading

6
Final Demand

I recently received a final demand notice from a Supplier.  After I read it, I sent it to our A/P Manager.  Whenever I receive something from another credit department, I try to see what I can learn from them.  In this case, there was essentially nothing to learn.  The final demand letter was too long, and […]

Continue Reading