What Credit policy requirements for athletic pharmacy-supply store

Credit policies

If you plan to sell to customers on credit, explain:

• Whether this is typical in your industry (do customers expect it)?
• What your credit policies will be. How much credit will you extend? What are the criteria for extending credit?
• How will you check new customers' creditworthiness?
• What credit terms will you offer?
• Detail how much it will cost you to offer credit, and show that you've built these costs into your pricing structure.
• How will you handle slow-paying customers? Explain your policies, such as when you will follow up on late payments, and when you will get an attorney or collections agency involved.

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Answer Credit policies for an athletic pharmacysupply store involve careful consideration of industry norms customer expectations risk management and ... View the full answer