Everyone talks about how you should have a credit policy, but what is a credit policy actually made up of? What are the things that you put together and present as "My Credit Policy"? Here are the things you should to that will ensure you have a credit policy:
- Getting a signed Credit Application
- Checking references
- Getting a signed contract or agreement
- Pulling a credit report if possible
- Setting a reasonable credit limit
- Staying on top of your customers accounts and balances
