A Simple Agreement to Improve Credit & Collections By Shane Inglesby, CCE, Geneva Rock Products, Inc. Credit and collections - it’s what we do for a living. Without collection opportunities, we would not be employed. As much as we bemoan the challenges we confront on a daily basis, we have to admit that this challenge is [...]
Tag Archives: guarantee
By Scott W. Lee, JD, CCE, NACM Business Credit Services Payment Bonds Exceeding $50,000 Author’s Note: This is a short primer and should not be substituted for the advice of competent counsel which should be sought early. The advice of an attorney is money well spent in this area if you cannot afford to lose [...]
An often overlooked item in guarantees is whether the guarantor has the ability and willingness to pay. Many companies just have the entity principal sign the guarantee without ever looking into that person’s credit history or assets. If the person has no ability to pay, never has and never will, what good is the guarantee?