Mar 21, 2019

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By: Courtney Feider, Executive Coach, Behavioral Facilitator, and the Author of “I Heart Creativity”

Creative professionals used to be a specific category of worker in the knowledge economy, confined to their own imaginative roles and asked to do whatever upper management requested—no more, no less. Today, things are a little different. Creativity is becoming more valuable across entire organizations, especially at the top. In a 2014 Adobe study, 82% of companies reported a strong connection between creativity and the bottom line. Yet 61% said they didn’t see their own organizations as terribly creative.

If that points to a creativity gap, it exists nowhere more clearly than at the C-suite. Here are four of the most underappreciated reasons why truly creative leaders are now more likely than ever to have the competitive edge.… Read the rest

Mar 21, 2019

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By: Kathy Linscott, NACM Commercial Services

OFAC stands for “Office of Foreign Assets Control of the US Department of Treasury. It administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States.

OFAC compliance is critical for U.S. businesses working with overseas partners, such as foreign suppliers or clients. Regulations are in place in part to ensure that companies don’t unwittingly do business with terrorist organizations or other unsanctioned entities.

OFAC publishes lists of individuals and companies owned or controlled by, or acting for or on behalf of, targeted companies.… Read the rest

Mar 21, 2019

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The Western Region Building Materials Group is a progressive group of building materials distributors and/or manufacturers, all selling in the western U.S. This group is engaged in the exchange of credit experience information to assist each credit manager in their own respective credit decisions for their companies. The group has been successful in entertaining other credit topics of interest and welcomes special guests for presentations, both customer based and/or professional development.

This group is currently meeting quarterly at various locations in the western U.S. to assist all members with travel expenses. They welcome guests and companies potentially interested to seek and find the same values they have established together working and networking with each other. The group recently met in Long Beach, CA and enjoyed staying on the Queen Mary for their overnight accommodations.… Read the rest

Mar 21, 2019

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By: William Fig, Partner, Sussman Shank

Everyone involved in the construction industry should be generally aware of the technical, statutory quagmire that is Oregon construction lien law, ORS Chapter 87.001, et. seq. The most known requirements are the deadlines for lien notices, the recording of a lien, and the foreclosing of a lien that must be followed in order to preserve your right to perfect and enforce a construction lien. However, mired in the bowels of the Oregon lien law statutes are several less obvious traps for the unwary material supplier.

The first such trap may be sprung early on in the life of a project, well before any problems arise or a lien is filed, and it has serious consequences for material suppliers.… Read the rest

Mar 21, 2019

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By: Christie Citranglo, NACM editorial associate

When working with customers, paying attention to the volatility of the current market can be a deciding factor when extending credit to a new or existing customer. Terms can be impacted by the state of the current economy, and customers may have complications in their industry due to bullish or bear markets.

With any trends in the market, taking note of patterns from past recessions and flourishing markets can aid in making credit decisions, despite how unpredictable a certain market can feel at times. According to a recent webinar by Moody’s Analytics titled “Navigating Choppy Markets: Focus on Asia,” Asian and American markets are becoming increasingly risky, but this pattern of risk does not deviate from patterns of the past.… Read the rest

Mar 21, 2019

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With the release of the Experian/Moody’s Analytics Q4 2018 Main Street Report, you can view the latest insights on small business credit conditions; interact with dynamic graphs; read commentary from the economists at Moody’s Analytics and share them with your network.
Use the latest quarterly small business credit data to spot trends before they affect your bottom line — DOWNLOAD REPORT.

Q4 2018 Highlights:
Small business credit shifts from positive to neutral
Rising delinquency in Construction industry
Government shutdown impact on small business

Look for Q1 2019 coming soon.… Read the rest

Feb 20, 2019

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Written By: Rod Wheeland, Wheeland Consulting

Over the years I’ve reviewed hundreds of credit applications used by trade creditors. They sometimes have a limited terms and conditions section – which sets expectations and the tone for the relationship. And they may leave out important provisions that give you a leg up in resolving delinquency. They also may cover the associated collection costs, should it become necessary to use a third-party to try to get paid. The most obvious provisions that help are listed below, and I’m sure there are many more depending on your product and industry.

  1. Customer agrees to pay according to the terms stated on Seller invoices. Require that any variance to these terms be agreed to in writing by the Seller.
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