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Our Subscribers Say...
I think Credit Today is fantastic. You cover many practical topics in the credit field that I use regularly. Just one recent example—a conversation on the ListServ about preferential payments—gave me tips that I used in an actual case. The specific information I picked up from this one discussion saved me $10,000, enough to cover my membership for many years!
- Steve Savino
Manager of Credit & Collections, ASSA Abloy Americas Division, New Haven, CT
Credit Today's Resource Directory and their online e-mail forum (ListServ) provide information on almost any credit-related topic you can think of. It is a great way to exchange information with other credit professionals. As the saying goes, "You don't know what you don't know."
- Scott Goen,
Credit Manager, Big Lots Stores, Inc., Wholesale Division
"We've recently started using the ListServ tool within Credit Today. This is phenomenal and powerful forum for gaining immediate feedback, ideas, and suggestions, relative to any credit topic under the sun, all in a real-time e-mail format."
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"Being a part of the Credit Today online community is like having the expertise of hundreds of credit managers at your fingertips. These credit execs are willing to help you solve topical business issues as they arise. In the current environment of ever increasing competing priorities which reduce our opportunities to meet peers out of the office face-to-face, this is the most valuable tool you can have on your desktop! It's important that we have a mechanism to reach out to our counterparts quickly to exchange knowledge as well as to stay on top of industry trends."
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The Credit Today ListServ has become the pre-imminent online forum, providing an opportunity for discussion and comments (and occasional humor) from an impressive list of credit professionals."
David Dungan, Director of Credit
Justin Brands, Inc. (A Berkshire Hathaway company)
Fort Worth, Texas
"There are numerous credit periodicals available to the credit professional today. How good is Credit Today? Is it relevant? I always have to read it late, or online because my credit analysts want to read it the minute it comes in. When my staff wants to read a publication before I have a chance to read it then something is working in that publication. We have cancelled our other subscriptions. When you have the best you do not need the rest."
Ron Woods
Corporate Credit Manager-World Wide
Thales Navigation, Inc.
"The newsletter, coupled with the website and the ListServ, are to us, more valuable than any other credit publication, bar none. I try to use at least one article out of each newsletter for departmental training/discussion sessions."
D. Mark Constantine
Corporate Credit Mgr
Fulton Paper Company
"I love Credit Today and read every issue cover to cover. For me, the greatest perk of a subscription is ListServ. I believe Credit Today's ListServ members may be the most knowledgeable Credit brain trust in existence today. I have saved and categorized hundreds of contributions on a wide variety of topics which I refer to often. It's an easy and cost effective way to network and learn."
Doug M. Thomas
Kimberly-Clark Customer Financial Services |
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Can Bank Avoid Paying on Letter of Credit Based on This Technicality?
The sale of $50,000 in machine parts by Johnson Industries to Fielding Enterprises was secured by an irrevocable letter of credit issued by the First State Bank. The letter of credit is read as follows: "First State hereby agrees to accept and pay at maturity any grant on us at First State within 60 days of this date by the beneficiary (Johnson Industries) for the account party (Fielding Enterprises) to the aggregate amount of $50,000 and negotiated through First State Bank. One negotiable bill of lading must be forwarded directly to the First State Bank immediately by the bank negotiating the documents. Remaining documents must accompany the drafts."
The goods were delivered to Fielding Enterprises and Johnson Industries received invoices and non-negotiable bills of lading that CFO Pete Johnson attached to a demand letter and sent by certified mail to the bank. The demand letter stated as follows: "This letter will serve as our draft on your bank for the letter of credit drawn for the account party. Please make your cashier's check payable to the beneficiary. The invoices and bills of lading are attached." But the bank refused to pay. "Look at the letter," a First State officer told Pete. "It specifically requires negotiable bills of lading. You didn't provide them." "Get real!" barked Pete. "Just last month, we submitted almost identical drafts on letters of credit containing the same compliance terms, and you didn't have any trouble with those. What are you doing--changing the rules in the middle of the game?" But the bank stuck to its guns and refused to pay. Can Pete enforce the letter of credit based on the prior course of dealing? Click "Next" for the answer.
Next >>
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Credit Groups 2012
Wonder What the ROI is on Credit Groups?
Find out here...
It's been 4 years since our original ground-breaking survey on credit groups and we're revisiting this most important topic. Among other topics, we're investigating:
- What are the top services being offered by credit groups
- How much credit groups cost
- What the value of credit group services is
- What the value of credit group services is in comparison to credit reporting services
- How data is submitted
- What percentage of credit groups reveal terms
- What percentage of credit groups share data outside the credit group
And much more...
Click here to participate!
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