Thea Dudley
Double dipping credit card discounts
Dear Thea,
We are considering an announcement to our customers that credit card payments will be exempt from their discount.
No discount on sales tax or delivery charges
Dear Thea,
We have never allowed customers to take their discount on sales tax or delivery charges. We don’t allow the discount on sales tax due to the fact that we have to remit the full amount to the state, not the discounted amount.
When to ask for updated credit applications
How often should we be getting updated credit applications signed by our customers? Is there a period of inactivity on the account that should be a factor to consider if we ask the customer to sign the forms again?
Oxymorons in the credit department
Dear Thea,
If I hear the phrase “He has been a great customer with us forever. He always pays, he just runs slow,” I will scream!
Best practices for retention balances
My question is about retention. If prompt payment has happened throughout a project, would it be necessary to file a lien or bond claim for the retention balance?
What to do about personal guarantees on credit applications
What can you do when a potential customer refuses to sign the personal guarantee on your credit application?
Liability when extending credit
As a supplier, is there any liability in extending credit to a contractor whose workers compensation insurance isn’t current/active?
A case of old-fashioned identity theft
Dear Thea,
We are a small supply house—just two locations. We have been the victim of identity theft. Our checks are being intercepted prior to reaching us. Our customers who have been affected by this are upset with us.
How to get sales reps to collect
Dear Thea,
Our sales reps get paid commission on the sales they make so you think that it would motivate them to help make sure we get paid. It doesn’t. How can I get them engaged and help get our money collected?
Customer management belongs to sales and credit departments
Dear Thea,
I have been a credit manager for a very long time. Over the years I have heard the sales reps I work with refer to the customer as “theirs” until it all goes downhill...