Credit Vetting
Credit vetting is the process of examining and analysing the data about a customer or organisation to determine their creditworthiness and whether credit should be extended to them. Credit vetting is an essential tool for businesses. It provides you with effective and accurate protection to minimise any risk associated with your clients. It may be easy to extend credit without fully knowing your customer, but this can have devastating consequences to your business. It is important to note that you are required to obtain a written consent from the customer/client prior to having a credit check conducted.
A well drafted credit application from Broodryk Attorneys will incorporate the required consent.
Areas of Expertise
Expert advice and assistance to navigate debtors disputing liability and defending a summons.
Tried and tested debt collection process which aims to avoid expensive and time consuming legal processes.
Commercial debt collections focus upon the collection of outstanding debts owed to a business by another business, or by an individual for a business-related debt.
Consumer debt collections focus upon collecting debts from individuals that were incurred for a personal, family or household purpose.
The most important function of a credit application is to enable a credit provider to properly assess who its client is, before starting to trade with them.
Credit vetting is an essential tool for businesses. It provides you with effective and accurate protection to minimise any risk associated with your clients.