By: David H. Conaway, Shumaker, Loop & Kendrick, LLP
In the Chapter 15 proceeding of Energy Coal S.p.A., the Delaware Bankruptcy Court required a United States creditor to recover its claim in Italy.
Because there is no uniform global insolvency law, and each world country has its own insolvency law, The United Nations Commission on International Trade Law (UNCITRAL) developed the UNCITRAL Model Law on Cross-Border Insolvency (1997) to facilitate cooperation and uniform outcome in cross-border insolvencies. 43 countries have adopted the model law, and the United States’ version is Chapter 15, which is an ancillary proceeding to the “foreign main” proceeding, in this case in Italy. Founded on principles of comity, the U.S. courts assist the foreign insolvency court in cross-border insolvencies.… Read the rest
Have you ever heard the quote, “If everything seems under control, you’re not moving fast enough?” This reminds me of today’s credit professional. We see today’s average credit department being asked to take on more and more responsibilities that are not specifically credit related. While this might be beneficial for the company, a credit person must remain focused, well educated, and informed to make the best credit decisions. If one is not connected and doesn’t understand the ebbs and flows of the industry they are serving, bad credit decisions will eventually result in problematic collection issues for the business. NACM is the designated resource for individuals to be a better credit person than they were the day before.… Read the rest
Companies with strong business credit files can reap many benefits, because a business credit file helps convey a company’s image to others. For small businesses and startups especially, establishing a reputation can be an onerous task, but by establishing a reputation with a strong business credit file, entrepreneurs can actually solve many problems at once. Besides helping to establish a reputation, a business credit file can aid funding and contracting efforts, as well as help manage business risk and cash flow.
Because of how important your company’s business credit profile and overall reputation are, adhering to a good credit-building strategy can play a huge role in how your business is perceived by other industry professionals and corporate peers.… Read the rest
In today’s business world, any company doing business internationally must have effective policies in place to comply with United States’ export laws and regulations. If at any time your company engages in trade with another country, it is important to understand the rules that govern such trade and have a compliance policy in place. The U.S. export controls apply to all international business. Penalties for violating them may include criminal prosecution with up to 20 years in jail, denial of U.S. export privileges, and debarment from U.S. government contracts.
In the webinar “End Users, Due Diligence and Necessary Documentation in the Event of an Audit, Best Practices,” hosted by FCIB, presenter Lizbeth C. Rodriguez-Johnson, Esq., of Holland & Hart LLP, outlined what comprises a good compliance policy for companies and the importance of having one.… Read the rest
By: Experian – Linda Tan
So you’ve created the perfect campaign with great creatives and an unbeatable offer. You deploy the
campaign and sit on the edge of your seat waiting for all the leads to flood in. After a couple of days, you notice a couple of responses but nowhere near the volume of what you were hoping for, and you’re stuck asking yourself “why?” Here are a couple of hypotheses: 1.) the people you reached out to aren’t the right audience so they don’t care about your offer, or 2.) your target audience didn’t see your efforts because you used the wrong channel. The cost of acquiring new customers can be expensive and sometimes unpredictable, but it doesn’t have to be.… Read the rest
By: Shannon Abnal, NACM Commercial Services
I’ve been coordinating the Data Contribution Program at NACM Commercial Services for over twenty years. That means two things. First, I’m old. And second, I’ve learned a thing or two about data contribution and how to help NACM members participate. Whatever obstacles are stopping your firm from sharing credit experience with the credit community, I’ve probably helped other members face the same challenges before and would welcome the opportunity to help your firm participate.
Here are some of the top questions or concerns I hear from members about data sharing:
Contributing takes a lot of time. Most members find data sharing takes just a few minutes per month once they are set up and running.… Read the rest