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In the credit and collections game there seems to be a lot of acrimony regarding the use of promissory notes. Credit managers don't like to offer them, customers don't like to sign them and many a CFO view them with such skepticism they force the controller to accrue note balances in the reserve for bad debt. Business is a dynamic process and the financial viability of good companies can sometimes fluctuate. Allowing your customer to sign a note that incorporates a reasonable rate will generally be well received.
Making Promissory Notes Work Curtis Spriggs Business Credit; Apr 2010; 112, 4; Docstoc pg. 22 Reproduced with permission of the copyright owner.
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