Your business must collect information about the customer and their creditworthiness. These resources can help:
NACM Resource Library (member login required)
A quick and easy way to research the most current information on business credit topics using a variety of NACM resources.
US Department of Justice; AntiTrust Division
The mission of the Antitrust Division is to promote economic competition through enforcing and providing guidance on antitrust laws and principles.
Antitrust Laws and You
The federal government enforces three major federal antitrust laws, and most states also have their own. Essentially, these laws prohibit business practices that unreasonably deprive consumers of the benefits of competition, resulting in higher prices for products and services.
Universal Currency Converter
The Word’s Favorite Currency Site
Free NAICS Look Up
Take advantage of this free online NAICS and SIC Code Search Tools to determine your Company's NAICS and SIC Code - Search by Keyword or Drill Down by Industry.
SIC Code to NAICS Code Converter
Enter Your SIC Code to Find the Corresponding NAICS Code.
Fighting Fraud with the Red Flags Rule
The Red Flags Rule requires many businesses and organizations to implement a written Identity Theft Prevention Program designed to detect the warning signs — or "red flags" — of identity theft in their day-to-day operations. By identifying red flags in advance, businesses will be better equipped to spot suspicious patterns that may arise -- and take steps to prevent a red flag from escalating into a costly episode of identity theft.
In deciding whether to extend credit, you need to know whether a customer is “creditworthy.” Does the customer have sufficient assets? Is the customer likely to pay bills when they become due? Don’t be afraid to ask for credit applications. You need information on a new customer; this displays the competence, care and professionalism of your business.
A Job Information Sheet will help prompt you on the information needed. Get a site plan for the project and keep it within easy reach. This is the best single source of information to hand to your attorney in order to identify the project and begin a title search to develop a good legal description.
Lien and bond waiver forms required with payment requisitions can be the kiss of death. It is very important to get your money, but do not let cash flow urgency result in long-term losses. Waiver forms vary greatly in their wording and effect. Recognize and revise what you are signing.