A well-defined credit application provides the basis for gathering information and implementing the company’s policies. The credit application is the primary document which allows the credit professional to “Know Your Customer (KYC).” It may also serve as a contract.
After viewing this module, students should understand:
The purpose of a credit application.
How to obtain banking information.
How the credit application acts as a contract.
What goes below the signature line..
The Purpose of a Credit Application
Source of Information
The Entity Itself
Bank and Tax Information
Credit Application as a Contract
Below the Signature Line
Speaker Bio: Toni Drake brings over 30 years of oil and gas credit experience to the table. Toni holds a CCE, NACM’s most prestigious designation. After earning her CCE, she went on to attend and excel at NACM’s Graduate School of Credit and Financial Management to further her education in the field of credit. Toni continues to support the credit profession as a speaker and instructor at events like NACM’s annual Credit Congress.