I was a speaker at Credit Congress in St. Louis in June and was reviewing many helpful NACM publications, groups, and other helpful products NACM provides us as credit professionals. The group I was with had not read the Cannons of Business Credit Ethics – so we read them out loud. I then thought – I should write about this? I really like that we as a profession have these written guidelines.

A LINK TO THE CANNONS for your ease of finding them. 

When I started in the credit profession decades ago, I was given a copy of the guidelines by NACM and read them when NACM made a personal visit to my company. Years later I changed employers and started work at Norbest Inc. for Jeris Baldwin. (a fabulous credit manager and mentor) Jeris asked me about my knowledge of the guidelines and requested that I put a copy up at my desk. She did not ask me to do this because I didn’t understand credit or what the laws credit professionals should follow, she wanted me to have the reminder I was a professional. As credit professionals, much like doctors, lawyers, CPA’s, etc. we had a code to live/work by. She wanted me to understand I was part of a group, and I was a valuable member.

In 2015 when I was studying for my CCE exam with another great mentor – Georgette Bevan, CCE, I needed to refresh my knowledge to prepare for the exam and re-read the Canons. I was glad for the opportunity to reread the Cannons not just to update my memory but because it was a question on the test. Obtaining my CCE was part of my professional growth and as such I still need to remember and live by those Canons every day.

Just for your information this is my favorite part:

Negotiate verbal or written credit agreements, contracts, assignments and/or transfers with honesty, fairness and due diligence to and for the benefit of all parties.

I like that word ALL in the above section of the Cannons. For example, sometimes when negotiating payment plans with a customers, they are often surprised when I don’t take a high dollar payment amount right away. I inform the customer that I think a different payment plan is in order because I understand that the customer is struggling and I want the payment plan to be a win-win for both companies. In order to achieve success, sometimes a smaller amount over a longer time is better.

Please take a moment to read for the first time – or for a refresher the Cannons.

If the earlier link did not work for you, you can find the Cannons by copying and pasting this address:
https://nacm.org/ethics-a-standards/60-canons-of-business-credit-ethics.html