Subscriber Discussion

Protecting Yourself When Offering Terms To Your Customers

What are some of the things that you do and products you use when offering Net30 terms to your customers so that your hiney is covered in case they dont pay?

Run a D&B check, ask for trade references, look at overall company metrics, start them with a small credit line, do short-term terms initially, get letter of credit from their bank.

Also, make friends with a really good collection agency. If you want to discuss privately I can share more details with you.

What about trade credit insurance? How do you PM on this?

There's no PM functionality, by design. I'll send an email to the two of you to introduce each other.