How to Check a Trade Reference
TRADE REFERENCES Trade references are normally obtained on your credit application and checked at the time of setting up of a new customer/applicant. It is a good practice to check...
How to Draft a Credit Application
Commercial Credit Application - How to construct a meaningful one. Puru Grover, M.B.A., LL.M., | Credit Guru Inc. © A request for credit generally begins with the completion of a Credit...
Credit Policy - How to Write One
Managing Credit: Is your Credit Policy Profitable? Puru Grover, M.B.A., LL.M.Business Education Solutions: Dun & Bradstreet Credit is an indispensable catalyst in financing the movement of commerce. Its roots go...
How to Set Credit Limits
Credit Limits | Line of Credit Although credit associates make a difference between ‘line of credit and ‘credit limit’ and there are some legal ramifications for both but for the...
What are the 4 Cs of Credit?
What are the 4 Cs of Credit?(Copyright, Credit Guru.com.) What are the 4 C's of credit? What do they mean? Are there 3, 4, 5 or 6 Cs of Credit?...
What is a Letter of Credit?
Letter of Credit - Documentary Credit What is a Letter of Credit? A Letter of Credit is a payment term generally used for international sales transactions. It is basically a...
Basics of a Credit Bureau Consumer Credit Report
BASICS OF A CONSUMER CREDIT REPORT •Information contained in a consumer credit report •How long does negative information gets retained on a consumer credit report •Understand your ratings •Sample Equifax...
Fixing Inaccuracies in your Consumer Credit Report
Credit Repair: Fixing inaccuracies in your Consumer Credit Report Your personal information contained in your credit files is governed by legal rights in the US and Canada. In the US,...
What is a FICO® score?
CONSUMER CREDIT SCORE- FICO® Score - Beacon Score FICO® Score stands for 'Fair Isaac Company Score' is a credit-score* between 300 and 850® (FICO® Scores range: 300-850®). The score, as...
Commentary on Confirmed Letter of Credit
Commentary on Confirmed Letter of Credit In an international trade transaction, additional money has to be paid to have a Letter of Credit (LC) confirmed since a seller would like...
Understanding Credit Ratings
CREDIT RATING Credit Rating is an evaluation of the credit risk of an individual; a business; a state; a provincial authority; a sovereign government or a country in order to...
Understanding a Draft / Bill of Exchange in a Letter of Credit Transaction
Understanding a ‘Bill of Exchange’ or ‘Draft’ in a Letter of Credit Transaction The following example illustrates the basics of a ‘Bill of Exchange’ (B/E): Let us assume that...
