Extending credit to shippers, the credibility of information, efficiency of communication and control plays a vital role in managing credit in your small business. Before you can even begin to think about granting any kind of credit terms, it is essential that you research and get the correct information you need to obtain reasonable assurance that you will get paid on time and in full. Transparent communications and an excellent flow of information and complete and clear documentation will contribute to building positive business relationships with your customers and clients. Most importantly, having a strong contact relationship with the accounts payable and following-up will be a key aspect in your collections and cash flow before extending credit to shippers.
Freight Brokerage & Credit: It is a normal procedure to perform buying and selling operations on credit. Establishing and maintaining a clear credit policy and following the proper credit practices and procedures should be an integral part of your small business operation. Marketing and sales, production and delivery, and customer service are essential aspects of your business, and your credit and collections practice complete the operating cycle.
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