This seminar is designed for business owners, credit managers, accounts receivable clerks, accountants and attorneys.
This program is intended to assist the credit manager and other persons responsible for collecting accounts receivable and trade credit. This seminar is designed with a view to enable the business owner in maximizing the value of accounts receivable. The speakers will share practical approaches to trade credit which will aid the collector in obtaining successful collection results. For a financial institution, a business involved with credit, or an attorney involved with collection problems, this program will deliver a sound understanding of the collection process.
8:30 a.m. - 9:45 a.m.
I. Extending Trade Credit – Avoiding Legal Pitfalls In The Application Process
A. Business v. Consumer Credit – Why It Is Important To Distinguish
B. Identifying Your Customer’s Form Of Entity
C. Obtaining Guaranties Of The Trade Account
D. Protecting Against Claims Of Discrimination In Extending Trade Credit
9:45 a.m. - 10:15 a.m.
II. Trade Credit And Problems In Using Credit Reports
10:15 a.m. - 10:25 a.m.
10:25 a.m. - 10:55 a.m.
III. Interest On Trade Credit Or Open Accounts
A. Late Fees Or Interest? Recent Case Law Clarifications
1. Late Fees As A Penalty – When You Can Have Too Much Of A Good Thing
2. Should You Charge Interest?
10:55 a.m. - 12:00 p.m.
IV. The Late Account
A. Work Outs As An Option
B. Pre-Judgment Attachment – What Is It And When Can You Use It?
C. Reclaiming Goods – Article 2’s Reclamation Rights
12:00 p.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m. - 1:35 p.m.
IV. The Late Account (Continued)
E. Removing Disputes On Amount Due As Delaying Tactic
F. Securing A Lien On Inventory Sold On Open Account
1:35 p.m. - 2:35 p.m.
V. The Law Suit
A. Pleas And Promises–When Is It Time To Sue?
B. Can You Go It Alone (Do We Have To Hire A Lawyer)?
C. Is Small Claims Court An Option?
D. Distant Deadbeats: Pursuing Out-Of-Town Accounts
E. What Will It Cost: Throwing Good Money After Bad?
F. Time And Results: What You Can Expect And When
2:35 p.m. - 2:45 p.m.
2:45 p.m. - 4:30 p.m.
VI. You Mean We Have To Give The Money Back? Voidable Preferences And
Fraudulent Conveyances In Bankruptcy – When You Have To Return Collections
A. What Is A Voidable Preference
B. The Contemporaneous Exchange Of Value Defense
C. The Ordinary Course Of Business Defense
D. The New Value Defense
E. Managing Collections To Minimize Preference Exposure
F. What Is A Fraudulent Conveyance
G. Avoiding Fraudulent Conveyance Exposure