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Our Subscribers Say...
"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
"As a corporate credit manager with over two decades of experience, I consider Credit Today to be one of the best credit newsletters. Whether it is because of Credit Today's management, its distinguished panel of advisors, or the caliber of Credit Today's subscribers, it would be fair to say that some of the best and brightest minds in our profession are represented. The credit issues, technologies, news, credit department profiles, etc. are interesting and useful. Credit Today is a valuable reference and communications tool which I look forward to reading each month."
Paul Brunner
Corporate Credit Manager
Mitsubishi Electric Automation, Inc. |
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Legal Issues Today
That the law governing credit is complicated comes as no surprise to credit managers. Credit Today is unsurpassed in explaining complex legal issues and translating often obscure legal language into terms that shed light instead of shadow. Here's what you need to know about bankruptcies, preferences, personal guarantees, creditor committees, security interests, reclamation letters, proofs of claims, and the effects of mass tort claims upon your customers.
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Statutes of Limitations: Carved in Stone?
By Ann Morales Olazábal, MBA, JD
Credit and the Law: The SituationJK Enterprises, an importer of men's apparel, sold $1.26 million worth of men's suits to Men's Trends, which operates a regional chain of specialty men's cl . . . keep reading
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E-Signature Act Benefits Business and Consumers FTC Reports -
So what does it mean to the Credit Professional?
By Scott Blakeley, Esq.
The Electronic Signatures in Global and National Commerce Act (The E-Sign Act) went into effect November 2000. The ESign Act makes an electronic signature (esignature) as legally binding as ink-andpaper signatures, and can be used in legal proceedings. An e-signature is generally defined as a form of technology, including fingerprint readers, stylus pads and encrypted 'smart cards', used to verify a party's identity so as to certify contracts that are agreed to over the Internet. . . . keep reading
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Automatic Lease Extensions Not So Automatic
By Ann Morales Olazábal, MBA, JD
Credit and the Law: The Situation Radiologists Sander Derrickson and Paulina Smith were partners in a medical practice known as Suffolk Open MRI. In February 1996, the practice entered into . . . keep reading
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Fraudulent Conveyance of Assets?
By Ann Morales Olazábal, MBA, JD
Credit and the Law: The Situation In late 2002, Zudwick Industries, a large food supplier, extended credit to Jamestown Grocery, a thriving local purveyor of gourmet provisions and prepa . . . keep reading
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Successor Liability After an Asset Purchase
By Ann Morales Olazábal, MBA, JD
In late 2005, family-owned Grubb Industrial sold two commercial food freeze dryers to Dreskin Meat Products. The sales agreement between Grubb and Dreskin stipulated that the two freeze dryers would c . . . keep reading
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Spousal Guarantees: Be Careful What You Ask For
By David D. Farrell, Esq.
When extending credit to a closely held company, you-as a prudent credit manager-often may insist that an officer, director and/or shareholder of the company provide a personal guaranty. Because of the difficulty under the laws of many states in collecting an individual obligation from a married person, you may also be inclined to ask the spouse of the officer, director or shareholder to also sign the guaranty. By doing so, however, you may not only be jeopardizing your company's right to collect the amounts advanced under the line of credit but also exposing it to significant monetary liability. How can that be? . . . keep reading
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Bank Has Lien on A/R - Can It Grab A/R Proceeds Paid to Suppliers?
By Ann Morales Olazábal
Palmrose, Inc., a cosmetics manufacturer, borrowed in excess of $400,000 dollars from Second Merchants' Bank. As collateral for repayment of the loan, Palmrose signed a security agreement, giving the Bank a lien on all of its accounts receivable. The Bank properly filed a financing statement perfecting the lien, and for the first two years, Palmrose had no difficulty with its debt service. Collection was aided by direct payments from Palmrose's account at Second Merchants'. In the third year of loan, however, Palmrose began to experience some difficulties. A number of its primary suppliers cancelled their credit arrangements and began demanding payment in advance for all deliveries. Palmrose began paying the bank intermittently. . . . keep reading
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