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Sarbanes Oxley and Credit Management
Many large companies, over the past several years have had to revamp their internal policies due to key legislation enacted in July of 2002: the Sarbanes Oxley Act (SOX). This legislation has become especially important for credit departments.
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Final Demands
Do your “final demands” have a credibility gap?
When a company finds itself in a cash flow crisis it does not take long for the telephone to begin ringing and the mail to fill up with demands for payment.
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What can be done if you discover that you have shipped goods to a customer who may not be solvent?
You have just shipped an order to your customer on credit when you discover that he/she has become insolvent. Worse yet, you discover that he/she has filed bankruptcy. Can you simply retake your merchandise and sell it to another buyer, or is your only recourse a lawsuit seeking monetary damages?
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