Credit management for TBank Ltd. (2nd Batch) successfully completed today. (18th – 22nd Oct. 2021)

Any business which sells goods or provides services ‘on credit’ – that is, without receiving payment at once – is exposed to the very real risk that customers or clients might ‘default’, that is, not settle their debts when they fall due for payment. Such ‘bad debts’ can seriously affect the operations and profitability of a business, and so must be kept to the bare minimum.

It is the important task of the credit manager and/or accounts managers and personnel, or the owner or manager of a small business, or an appointed official or executive of larger businesses – to formulate a ‘credit policy’ to control and manage the credit extended to its customers or clients.

The credit-control process needs to be understood and followed, with adequate checks made on the “creditworthiness” of new and existing customers, and ‘credit limits’ (how much credit is allowed and for how long) must be set. A major responsibility of a credit manager is to ensure debts are collected on time, that any signs, a customer might default are acted upon early, and that any overdue debts are “chased” to avoid losses.

This program covered all those topics and many more of great value to all businesses.