"For
Credit Managers"
"Questions"
"Problems"
This section of our web site had been set aside for members to ask questions and raise problems pertaining to the Credit Industry.
All correspondence via email to john@cbncredit.com.au
Members names will not be mentioned either in questions or responses, unless authorised by Member.
The new Privacy Act Amendments come into force on 21st December 2001.
Question: What changes must I make to our company's systems / procedures so that we fully abide with the Act's requirements, when giving "Commercial Credit" ?
The Company has just received a request, via a solicitor, for the return of a "Preferential Payment", regarding a Debtor who went into Liquidation in 1996.
Question: How long can payment be considered "Preferential" as far as a Liquidation is concerned?
We have a COD customer who purchased stock with a cheque that subsequently was marked "Refer to Drawer" when presented to our bank. The stock had already been delivered and our company has a "Retention of Title" clause on all required documents.
Can we
1. Demand the customer stop using out stock untill payment is made in full?
2. Remove our stock from the customers property without resorting to Legal Action?
