Introduction to Credit Management

Credit Policy

Credit Checks

Invoicing

Credit Monitoring and Cash Collection

Recovering Overdue Amounts

Bad Debts

Working with Big Companies

Working with Public Companies

Factoring and Invoice Discounting

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Working with Public Companies

The risk of a Public Company defaulting on a payment is very low. However, they will almost always dictate to you their payment terms and these terms will be very long. It is not unusual for Public Companies to insist on 6-12 month payment terms.

Public Companies (hospitals, schools, government etc) do not go bankrupt and so you do not need to worry about obtain credit reports. In fact, most large companies offer the public sector unlimited credit.

However, if you are a small business you will need to carefully consider how long you can afford to wait before expecting to be paid. If cash flow is restricted, you will need to ensure that you are not too heavily reliant on customers who do not pay quickly.