FINAL IDENTIFICATION Flashcards
(36 cards)
MEASURE or SPECIFY the credit period
Terms
came into the WIDE and POPULAR use to express modification of the usual terms
Dating
The NATURE OF THE COMMODITY generally circumscribe the terms of sales.
The Commodity as a Factor
the seller recognizes the DISTANT LOCATION OF THE BUYER, and accordingly make a concession in the matter of terms
Geographical Considerations
The “REGULAR TERMS” of trade usually apply to shipments of orders received for DELIVERY AT ONCE
Seasonal Dating
grant credit to their buyers who CONTINUE TO EXTEND THEIR PATRONAGE though the years.
Terms in Retail Trade
grant credit to their buyers who CONTINUE TO EXTEND THEIR PATRONAGE though the years.
Terms in Retail Trade
It need NOT TO BE STRESSED herein that there exists a correlation between the grant of credit and the TIME OF PAYMENT
Standing of the Customer
this applies specifically to transactions in which the SELLER RECEIVED THE CASH PAYMENT as a condition to delivery of goods, an ironclad protection to the seller’s interest.
Cash before Delivery (C.B.D)
THE MOST COMMON PRACTICE in business transactions.
Cash on Delivery (C.O.D)
THE MOST COMMON PRACTICE in business transactions.
Cash on Delivery (C.O.D)
all shipments MADE DURING A PARTICULAR MONTH are to be considered as though they were made on the LAST DAY OF THE MONTH, and the terms run from the last day.
End of Month (E.O.M)
refers to the amount allowed for payment prior to the MATURITY OF THE BILL.
Cash Discounts
is INTENDED as an allowance from the price. It is a distinctly an ELEMENT OF PRICE
Trade discount
is INTENDED as an allowance from the price. It is a distinctly an ELEMENT OF PRICE
Trade discount
refers to the GRANTING AND MANAGING OF CREDIT ACCOUNT to new and existing customers within a company
Credit management
does NOT GRANT OR EXTEND credits.
The Credit department
is A MAN who occupies a VERY IMPORTANT POSITION in the structure of a credit economy
The Credit Manager
is A MAN who occupies a VERY IMPORTANT POSITION in the structure of a credit economy
The Credit Manager
This task is PERFORMED BY THE BANK CREDIT INVESTIGATOR who has, as his main objective
Credit Investigation
This task is PERFORMED BY THE BANK CREDIT INVESTIGATOR who has, as his main objective
Credit Investigation
HANDLE THE OVERALL SUPERVISION of his section or department
Supervisor
HANDLE THE OVERALL SUPERVISION of his section or department
Supervisor
ASSUMES RESPONSIBILITY OF THE SUPERVISOR in his/her absence
Senior Credit Analyst
