Category Archives: NACM Professional Designation/Certification

NACM Canons of Business Credit Ethics

Posted by on October 31, 2012 at 10:02 pm.

By DeAnna Leahy, CCE, Sunroc Corporation

In our industry credit group meetings, each of us follows along as the Anti-Trust Compliance and Anti-Defamation Statements are read and then we quickly move on to the names submitted for discussion by each of the group members. I sometimes wonder how often members take the time to read and contemplate the information contained on the page entitled Canon of Business Credit Ethics that is located between the Anti-Trust Statement and the individual credit reports. I believe that it would be beneficial for each of us to review these cannons on a regular basis.
The Canons of Business Credit Ethics evolve over time but the essence remains the maintenance of high ethical standards. You may remember the previous statement which is still good advice: 

  1. Justice, equity, and confidence constitute the foundation of credit administration.
  2. Agreements and contracts reflect integrity and should never be breached by either party.
  3. The interchange of credit information must be based upon confidence, cooperation, reciprocity, and confidentiality.
  4. It is deemed unethical to be a party to unwarranted assignments or transfers of an insolvent debtor’s assets nor should creditors participate in secret arrangements.
  5. Creditors should cooperate for the benefit of all in adjustment or liquidation of insolvent estates or companies.
  6. Creditors must render all possible assistance to honest debtors who become insolvent.
  7. Dishonest debtors must be exposed and referred to the authorities.
  8. Cooperation, fairness, and honesty must dominate in all insolvent debtor proceedings.
  9. Costly administrative procedures in the rehabilitation or liquidation of an insolvent debtor shall be avoided at all times.
  10. Members pledge themselves to uphold the integrity, dignity, and honor of the credit professional in all of their business dealings.

The newer version of the Canons of Business Credit Ethics is more generalized to fit a wider variety of situations but calls upon the credit professional to exercise more individual thought when applying the provisions to a much broader global market. view full article at http://www.nacmint.com/news-and-resources.php?v=583

Avoid Expensive A/R Credit Lessons with Education

Posted by on August 5, 2011 at 5:07 pm.

“The difference between school and life? In school, you’re taught a lesson and given a test. In life, you’re given a test that teaches you a lesson.” Tom Bodett

Lessons learned in a credit department of a business may be costly. How often could a bit of knowledge have saved thousands of dollars - if only they’d known.

The Basics That Every Credit Department Should Know:
*The customer’s legal formation where is the financial strength and who is legally liable for debt.

*The 5 C’s of Credit the essence of evaluating customer information and making good credit decisions.

View related article on The Five C’s
The Five C’s of Credit in Today’s Economy

View full article

How to: Certify as a Credit Professional

Posted by on May 2, 2011 at 8:01 pm.

By Georgette Bevan, CCE, NACM Business Credit Services

Many credit professionals did not aspire to a career in credit and collections, they just fell into credit as did I. It was clearly not my choice. I was given increasing responsibilities which raised me to the level of my incompetence, which drove me to NACM for education. Not only did NACM education help me do a better job, but I found that I absolutely enjoyed learning, getting promoted, making more money and associating with the finest individuals in our community.

As I obtained professional certifications, there was a noticeable impact on my employer’s bottom line profitability and this opened amazing opportunities for me.

Have you wondered what a Professional Designation requires? Here is my “bare bones, condensed version” of the certification process.

3 levels of Designations

   CBA - Certified Business Associate

   CBF - Certified Business Fellow

   CCE - Certified Credit Executive

Requirements for each designation:

View full article at http://tinyurl.com/3mjrp86