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Fort Worth, Texas
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Senior Credit Exec Email Forum Archives
 The Credit Today ListServ is a 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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- Javier Vela, Senior Credit Manager, Global Credit Services, JDA Software Group Inc.
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Credit Today's Email-based Forum is a powerful braintrust of some of the smartest and most helpful credit execs around. Here you'll find the best of our Forum discussions. Signup Now!
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Are buyers in Mexico responsible for the VAT?
February 1, 2012
We have recently received an order from Mexico. There is a very large VAT associated with this sale. It is my understanding that the buyer (in Mexico) is 100% responsible for paying this tax. Do I understand correctly? . . .
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What can you tell me about these three collection agencies?
January 10, 2012
I am in the process of finalizing the selection of a new collection agency. I started with a 33- question RFP which was sent to 18 different collection agencies. Eleven were returned. From those eleven, I selected my top five which has now been narrowed down to three and they are in no particular order: Commercial Collection Corp of NY D.A.L., Inc. CRF Solutions (Continental Recovery and Filing Solutions) If you have any experience both good and bad with any of these companies, please let me know. . . .
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Any advice on selling in Canada?
January 9, 2012
We are in the process of expanding into Canada. The tax laws, exemption status for delivery and pick up, and customs are concerns. Could use advise/help/web link/ to help navigate and understand the process. . . .
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Do you have any recommendations on getting credit card authorization forms on file?
January 4, 2012
We are changing our credit card process and will use this as a training opportunity to get credit card authorization forms on file. I've already viewed the Credit Today download section and found a form example. It covers the basic elements (name, address, card#, expiration, signature, date) but I was wondering if there are suggestions for any other elements or conditions that you recommend? . . .
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If this company won't supply financials, what should I do?
January 3, 2012
I have a request from our licensing group to OK a deal on a company that recently acquired one of our other licensing companies. They have been in business for a year and have no parent, but are related to other similar companies only as a brother - sister type relationship. So if they won't supply financials (no parent to do a cross-corporate), any thoughts on where to go with this? I am going to assume that a standby is out of the question. My only thought is to require a larger advance. Any ideas? . . .
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Is there a problem getting authorized signatures on credit apps in Taiwan?
January 3, 2012
For business in Taiwan & the USA. Several customers have advised they cannot secure a signature from an authorized person on credit applications. They are offering the "chop" of the person placing the order for the very specific invoice(s) on the current order. My interpretation & resultant question is that specific of a signature/chop conveys that the credit application would be applicable to that order. I am inclined to consider open account privileges for the specific order / purchase order / invoice. We are not usually talking about very much money (usually under USD$50k), mostly OEM business, & 30, 45, or 60 day terms. Thoughts? Other experiences in Taiwan? . . .
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When faced with an industry with a high DSO, even with a low ADD, what metrics do you use?
December 19, 2011
It is easy to spot increased DSO when you measure it against BPDSO & ADD. However, I haven't seen metrics discussed here where you have a long DSO, however have very low ADD. In some industries such as automotive, you have very long seasonal booking terms and in some instances long terms year round associated to container loads that run $100+ a piece. So when faced with an industry with a high DSO, even with a low ADD, what metrics do you use to point out to senior management: • Heightened credit risk, and • Reduction in profitability with increased interest financing. I calculate the cost of our A/R on a monthly basis and give YTD numbers throughout the year. If others can think of other issues/metrics please feel free to comment. . . .
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Will I be exposed to a preference claim?
December 12, 2011
Recently we have been approached by some our customers to participate in an early payment program, that operates by not changing terms, but by my going on line and bidding against other suppliers for early payments. If the vendor finds my offer or discount acceptable, the vendor then processes the selected invoices at the successful bid rate and sends me a check, net of the discount I offered. My discount bid would not necessarily be the same week to week, and there is no guarantee that my offer would be regularly, intermittently or ever accepted. If my bid is accepted, I would be getting paid contrary to the normal payment history with that customer. I imagine two vendors could both have winning bids the same week but the discounts offered could vary greatly depending on how high of a discount a vendor is willing to bid. Now for the issue, in the event of a bankruptcy filing, my fear is that I may be expositing myself to a preference claim and if that's the case, unless a customer is AAA, this is just not worth the risk. Anyone have any idea as to how this could play out in a potential bankruptcy preference claim. . . .
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Has anyone tried an across-the-board approach to encouraging ACH use by your customers?
December 6, 2011
Considering the on-going and growing issues with the US Post Office, we want to encourage as many customers as possible to start paying via ACH. Has anyone tried this 'across the board' with your customers? What issues created problems? Do you have a sample letter? We understand that some customers will be resistant, but the post office is slowing/stopping some services (at least in our area), and keeping DSO low is of concern. I'd like to hear your input -- good, bad or ugly. . . .
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Outlook 2012
This month's survey explores...
- What the top problems are facing credit execs currently, and
- What the top improvement initiatives are.
Click here to participate!
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