Business Credit

Business Credit is a magazine covering finance, business risk management and provides information for the extension of credit, maintenance of accounts receivable, and cash asset management. It is published 10 times per year by the National Association of Credit Management.Subjects for Business Credit include banking, finance and investments.

Articles from Vol. 113, No. 5, May

Collections or Small Claims?
This past year has been a challenge for credit and collection professionals. As with many businesses, a number of my customers have not met their financial obligations to my company, leaving me to decide what collection option to use. I generally use...
Credit @ Work
Dear Andy,Our company recently decided to allow some employees to work remotely, and a couple of people on my team will start doing this next month. I have never had to be a "virtual" leader before. While I look forward to the challenge, I'd obviously...
Federal Government Imposes Penalties for Non-Compliance with State Sales Tax Laws
Everyone has heard the horror stories of a state audit resulting in a company being fined several thousand dollars for improper reporting of sales tax or even non-compliance in their collection and storage of sales tax exemption certificates. Earlier...
Federal Government Imposes Penalties for Non-Compliance with State Sates Tax Laws
Everyone has heard the horror stories of a state audit resulting in a company being fined several thousand dollars for improper reporting of sales tax or even non-compliance in their collection and storage of sales tax exemption certificates. Earlier...
FTC Official Offers "Red Flags" Clarification to Trade Creditors
Federal Trade Commission (FTC) Attorney Tiffany George, in a recent discussion with representatives of NACM, offered the clearest guidance yet on the extent to which the "Red Flags" Rules apply to business-to-business (B2B) transactions involving trade...
FTC Official Offers "Red Flags" Clarification to Trade Creditors
Federal Trade Commission (FTC) Attorney Tiffany George, in a recent discussion with representatives of NACM, offered the clearest guidance yet on the extent to which the "Red Flags" Rules apply to business-to-business (B2B) transactions involving trade...
Gearing Up for the 3% Withholding Tax
One of the cornerstones of NACM's advocacy program has been the full repeal of one particular provision enacted in 2006. Tucked into the Tax Increase Prevention and Reconciliation Act (TIPRA), perhaps a bit ironically, was a provision that would...
Gearing Up for the 3% Withholding Tax
One of the cornerstones of NACM's advocacy program has been the full repeal of one particular provision enacted in 2006.Tucked into the Tax Increase Prevention and Reconciliation Act (TIPRA), perhaps a bit ironically, was a provision that would impose...
Good Morning, Venue Shoppers
Attorneys, Experts Divided on Future Legislative ProspectsImagine you five in Columbia, MD, and on a pretty tight budget at that. Now, imagine someone from the same area has committed a crime or some other kind of wrongdoing against you. So, would it...
Good Morning, Venue Shoppers: Attorneys, Experts Divided on Future Legislative Prospects
[ILLUSTRATION OMITTED] Imagine you live in Columbia, MD, and on a pretty tight budget at that. Now, imagine someone from the same area has committed a crime or some other kind of wrongdoing against you. So, would it make sense to go to New York,...
Hot Spots: Singapore
Economic growth rebounded in the final quarter of last year as manufacturing surged, capping the biggest annual increase in output since 1965. Real GDP gained at a yearly clip of 12.5% in October-December and by 14.5% for 2010 as a whole, making Singapore's...
Hot Spots: Singapore
Economic growth rebounded in the final quarter of last year as manufacturing surged, capping the biggest annual increase in output since 1965. Real GDP gained at a yearly clip of 12.5% in October- December and by 14.5% for 2010 as a whole, making Singapore's...
How to Hire People Who Click with Your Work Culture
Highlighting what's unique about your organization can be one of your most effective recruiting tools.Every company wants to hire people who are a good fit with their work culture. And why not? No one wants to work with a colleague who doesn't get along...
How to Hire People Who Click with Your Work Culture: Highlighting What's Unique about Your Organization Can Be One of Your Most Effective Recruiting Tools
Every company wants to hire people who are a good fit with their work culture. And why not? No one wants to work with a colleague who doesn't get along with others or lacks the same work ethic. Mismatched hires also carry the risk of higher turnover...
Industry Credit Groups Typically a Safer Bet Than Social Media, Email, Phone Calls
Nearly every vendor has been through it: a customer is really bad about paying its debts to your company and those of your industry peers. Then, when in a room with said peers, the customer's name comes up; alas, the temptation to say something negative...
Interchange Update: The Mother of All Card Fees, after the Recession
At some point between 2007 and 2011, interchange fees exploded. Not in the sense that they got outrageously higher, although that might not be far from the truth, but in the sense that while very few people were talking about them in the halcyon...
New Designees
Congratulations to Everyone Who Earned a Designation in March! CBA Susie Aguirre WESCO Distribution, Inc. Houston, TX Melvin Apgar Jr. Teleflex Medical Research Triangle Park, NC Rosa Apodaca Western States Petroleum Phoenix,...
Paid for New Value as a Preference Defense, More Good News for the Trade
The rash of preference actions trade creditors are facing these days has led to many court decisions addressing a variety of preference issues. One issue is whether a preference defendant can rely on paid for new value as part of its new value defense...
Pay-When-Paid Clauses and the New 2010 Massachusetts Prompt Payment Statute
The State of the "Common Law" Prior to the Passage of the 2010 Legislation Massachusetts law has been generally unsupportive of "pay-when-paid" clauses, which are sometimes referred to as "pay-if-paid" clauses. The key in reviewing a contract is...
Personal Guarantee Tops Bond Claims
As a 30-year veteran of credit management, I was taught long ago of the value of a personal guarantee. When a new account is being considered, asking for a personal guarantee should be automatic, so that you are getting an extra commitment from the...
Personal Guarantee Tops Bond Claims
As a 30-year veteran of credit management, I was taught long ago of the value of a personal guarantee. When a new account is being considered, asking for a personal guarantee should be automatic, so that you are getting an extra commitment from the owners...
Reclamation Catch-22: Darned If You Do, Darned If You Don't
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("BAPCPA") amended Bankruptcy Code Section 546(c)(1) and expanded the reclamation reachback period to 45 days in bankruptcy cases filed under BAPCPA. Although BAPCPA's change to Section...
Report for March 2011
This month's news is not so positive as recent world events are rippling through the U.S. economy. For the past several months there had been a consistent feeling of optimism--despite some struggling in the manufacturing sector based on solid sales--and...
Report for March 2011
This month's news is not so positive as recent world events are rippling through the U.S. economy. For the past several months there had been a consistent feeling of optimism - despite some struggling in the manufacturing sector based on solid sales...
United States Supreme Court Lends Hand to Preference Defendants: Trustees Need to State a Case
Before defendants in preference cases go through the laborious process of analyzing a plaintiff's case, a quick review of the complaint to identify whether there are any supporting facts may give them an escape route or leverage in defending the case....
We All Need Motivation and Inspiration in a Tough Economy
In hard times of economic downturn and recession-hit markets, a business needs all the help it can get to survive and grow. One of the best ways to do this is to draw inspiration from motivational quotes that can really inspire companies to reach beyond...
What's Happening Globally?
Japan In Japan, the 9.0 magnitude earthquake that hit on March 11, 2011, followed by a massive tsunami and the threat of a nuclear disaster, will hurt the economy in a big way this year. While the physical damage was mostly contained in Japan's...
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