Credit account application form uk

Credit advice

• Why credit check ?
• How to check credit worthiness
  • Which accounts
  • Status report from credit agencies.
  • Bank references
  • Trade reference
  • Account experience
  • Visits to customers by credit or sales staff
  • Industry credit circles
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  • Company accounts
  • Companies house
  • Register of county court judgments
  • Insolvency service
  • Get close to your customer
  • Make your credit terms very clear
  • Open new accounts properly
  • Issue effective invoices rapidly
  • Using the internet for collection
  • Have a clear account display
  • Achieve adequate collection coverage
  • Set targets and priorities
  • Effective use of accounting systems to help manage late payment
  • Use third parties sooner rather than later
  • Measure collection results
  • Do not just sell
  • Part payment
  • Stakeholder accounts
  • Legal expenses insurance
  • Special payment terms
  • Discount for early settlement
  • Prompt payment rebate scheme
  • Retention of title
  • Contra and offset against payables
  • Credit insurance
  • Factoring
  • Invoice discounting
  • Protect your cashflow during periods of disruption
  • Dealing with late payment excuses
  • Third party guarantees
  • Consent form
  • Application bank reference
  • Credit application
  • Confirm credit available
  • Estimate form
  • Initial invoice
  • Payment by instalments
  • Dispute of invoice
  • Interest & compensation charged on existing debt
  • Interest & compensation charged on future orders
  • Contractual interest
  • Reminder letter 1
  • Reminder letter 2
  • Final reminder letter
  • Instruct a solicitor
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  • Home page
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  • Credit application

  Credit application form

  If you are dealing with a new customer who wants to establish a line of credit then it is vital that you begin the credit management process at the earliest possible date. Ask for the basic information that you will need in order to assess whether the risk you are taking in providing them with credit is commercially viable.
  At Account opening stage the business has three objectives:
  1. To establish the correct identity of the customer.
  2. To confirm that customer's ability to pay.
  3. To agree Trading Terms.
  These objectives are not difficult to achieve. A simple Credit Account Application Form can be used to obtain information, and to set out, on the reverse, the supplier's Terms of Trading. By signing the completed Form, the customer provides the information and agrees the Terms.

  New Account	Change of Address	Close Account	Change of Title
  To be completed by [Customer] [Supplier/ Sales Representative] Full Legal Title and Trading Name : _________________________________
  Sole Trader	Partnership	LLP (please tick where appropriate)
  Limited Company	Co. Reg. No.		PLC

  Postcode Phone Number

  Statement Address (if same as delivery address, please state)

  Postcode Phone Number

  Business Activity (please specify __________________________________

  Method of Payment :

  Cheque

  Direct Debit

  BACS

  Other

  If other please specify: __________________________________

  I/We request you to open a Credit Account in the name of:
  ___________________________________________________

  With a Proposed Credit Limit of: _______________ per month
  Including VAT: ______________________________per month
  Agreed Credit Period : ________________________days

  1. Name __________________________________ Account Number________________
  Full Address_____________________________________________________________
  _______________________________________________________________________
  _______________________________________________________________________

  2. Name __________________________________ Account Number_______________
  Full Address_____________________________________________________________
  _______________________________________________________________________
  _______________________________________________________________________

  3. Name __________________________________ Account Number________________
  Full Address_____________________________________________________________
  _______________________________________________________________________
  _______________________________________________________________________

  Details of Owner/ Partners/ Directors

  We have read, understood and retained a copy of your conditions of sale (including the retention of title clause) and agree to trade in accordance with these for any goods supplied. We accept that title to all goods supplied to us will remain vested in [ ] Limited until all amounts outstanding from us on any account have been paid in full to [ ] Limited.

  I/We also agree to comply with your settlement terms (specified within your conditions of sale).

  I attach a sample of my/ our headed paper with this form.

  1. Name __________________________________ Signature______________________
  Home Address____________________________________________________________
  ________________________________________________________________________

  2. Name __________________________________ Signature______________________
  Home Address____________________________________________________________
  ________________________________________________________________________

  3. Name __________________________________ Signature______________________
  Home Address____________________________________________________________
  ________________________________________________________________________

  Customer Visit Report

  (to be completed by Supplier/ Sales Representative.)
  (This report should contain key information about a prospective new customer i.e. length of time in business, size of business, where they have previously purchased goods from, financial information etc.)