Credit Application Form

Brand: IMARI Doc Shop

Availability: In Stock
SKU: FIN-067

$8.00

The Docushop credit application form is an editable word document template you can use within your own busniess to capture customer details before offering credit. The document comes with sample data that you can use and keep or add your own customisations to. Complete with terms and conditions of sale...

Description

The Docushop credit application form is an editable word document template you can use within your own busniess to capture customer details before offering credit. The document comes with sample data that you can use and keep or add your own customisations to. Complete with terms and conditions of sale and credit references, directors details and anticipated amount of credit.

WHAT IS A CREDIT APPLICATION FORM?

The Docushop detailed credit application form is for your clients to complete with terms of credit and conditions of sale to ensure your rights are protected.

Extending credit to your customers can be a big decision for your business. Protecting your interests is paramount, and ensuring you have a guideline and agreement in place that sets the relationship up for success is the first step.

A credit application allows you to collect important information about your customer so you know if they are a prime candidate for you to extend credit to. It gives you the information you need to perform any credit and company checks. It also gives you the names of people who have done business with them prior and will act as business references for them.

On the other hand, it also gives them very clear clauses around what is acceptable payment behaviour, and what will happen when they deviate from your process.

WHY DO I NEED A CREDIT APPLICATION FORM?

If you ever offer credit terms or extend credit / delayed payment terms to customers you open yourself up to risk that they may not pay you on time, or worse, at all. Although you may know your customers, many times you will not. And even if you do know a customer, it does not mean that their financial position might change over time.

Putting in place a credit management system, including this credit application form is ideal for absolutely any business to protect your interests and give you rights when it comes to collecting overdue accounts.

WHAT IS INCLUDED IN THIS CREDIT APPLICATION FORM?

This credit application form template lists all your company information (this is handy so your customer has all the right information about where and who to send their payments to), then it captures all of your customers information such as:

The type of entity they are
Entity details (name, ABN, ACN, company structure, industry)
Directors / Partners / Owners personal information for directors guarantees
Their registered office address, postal address and trading address
All contact information like phone, email etc
Their banking details
Their trade references (people who will tell you whether they pay their bills on time)
Their ideal credit amount
Detailed credit provision terms and conditions

The terms and conditions are all in place to protect you in their case of a default ot delayed payment. It gives you rights to pursue and collect your money, charge interest on overdue accounts as well as let's your client or customer know their rights and responsibilities.

WHAT ARE THE BENEFITS OF HAVING A CREDIT APPLICATION FORM?

While for a small business putting a credit system in place with customers can seem untrusting or in bad faith, unfortunately, if you don't there are many risks to your business. Don't see the credit application as a bad thing, see it as a standard tool to protect both you and the customer. They know what to expect and you know they have a good credit history with other vendors.

Some of the benefits our customers find using this credit application template are:

Reduced legal action
Know who you are doing business with
Set the appropriate guidelines for payments
Clear boundaries
Increased cashflow
Formalise informal agreements with clients
Maintains a professional appearance to and relationship with the client

WHAT HAPPENS IF I DON'T HAVE A CREDIT APPLICATION FORM?

If you are seeking out this credit application template, it is likely because you know the risks associated with bad credit, and going into business with someone you don't know. Hopefully this is not because you recently had a client or customer that did not pay their debts on time or at all, but this is usually why people come and utilise this template.

If that hasn't happened to you before, and you are just getting ahead of the game, that is great. Because withou a template like this in place, if you extend credit, at some stage or another you won't get paid. And that is usually not because people don't want to pay you! It is because businesses fall on hard times. Protecting yourself now is a great step to making sure your own cashflow is not affected.

HOW TO USE THIS CREDIT APPLICATION FORM?

The template is an editable Word document and is ready to download and edit immediately.

Once purchased, wait a few moments while it creates your download, and you can then download when the ‘DOWNLOADS READY’ box appears. You will also receive an email with the downloads so you can access them later.

Customise the template with your business name and logo. You can also change the theme template to update the colour profile to match your corporate colours.

Read through every section and customise to your business. If something is not relevant, simply delete it. And of course, you can add any additional sections as you require.

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