It is a pack of guidelines that sets credit and payment terms for customers and establishes a clear course of action for late payments.
Credit policies are essential documents for B2B businesses that are into trade credit. It is a set of principles that an organization from the finance industry or business uses in deciding whom it will loan money to or give credit to.
An impressive, comprehensive and well-written credit policy communicates a high standard to your customers. It helps document and support corporate goals, clarifies authorization levels, and defines responsibilities. It needs to be updated periodically – ideally, once a year, reflecting new processes for credit and collections as tolerance for risk shifts across the portfolio.
RCC defines the requirements for establishing trade credit for new customers and maintaining credit lines and limits for active accounts and returning customers with appropriate payment terms.
RCC provides financial management services in India. To know how we can assist you with this please E-mail us at firstname.lastname@example.org or call us at 9971494206.
We always encourage a transparent working module so that our ideas & policies are clear to understand and easy to implement. Moreover, we aim to build long term relationships with our clients, grown on a root understanding of your business needs.