Company Name: PBS College (Pty) Ltd Telephone: Fax: Cell Phone: Email: marketingpbscollege.co.za Website:

Course Title:   Credit Management in line with National Credit Act

By far the majority of Credit Controllers in Southern Africa are not academically qualified to control their company’s largest liquid asset. For far too long the basic requirement for a person to fill this important control position, has been based on experience only – more often than not, experience gained from other unqualified persons.

Course Content

• National Credit Act

    o New law replacing the Credit Agreements Act and the Usury Act
    o Main purpose of the National Credit Act
    o Who is termed a Consumer in terms of the Act
    o Types of Credit Transactions
    o Types of Credit Agreements
    o Thresholds set by the Minister
    o Application

 

• Credit Application and contract

    o Language of the Application Form
    o Understandability of the clauses on the contract
    o Clauses required on the contract
    o Alterations to the contract
    o Sources of information

        Bank reports
        Trade references
        Credit Bureaux as stipulated by the Nation Credit Act
        Salesperson’s report

    o Evaluation in accordance with the Act

• Different forms of business ownership

• Terms

    o Various Open Account terms
    o Credit Limits

         Increase of Credit Limits in terms of the Act

         Decrease of Credit Limits in terms of the Act

 

    o Cheque Payments

         Crossings & Dishonours

     o Discounts

         Trade Discount, Cash and Settlement Discount in terms with the Act

    o Risk and Securities

         Evaluating amount needed
         Post-dated cheques
         Notarial Bonds
         Lien of ownership
         Cession and Assignment
         Pledge
         Mortgage Bond
         Personal
         Suretyship

    o Refusal of credit

• Credit accounting Cycle

    o Calculation of Days Sales Outstanding
    o Setting realistic collection targets

• Administration

    o Form of Credit Agreement to be delivered
    o Address to which notices must be sent
    o Disclosure of location of goods
    o Substituted goods
    o Charges and fees
    o Insurance

• Collections

    o Personal calls
    o Written collections
    o Third Party collections

• Telephone Collections

    o Telephone as Collection Tool
    o Overcoming objections
    o Listening, closing and follow-up

• Alternative Dispute Resolution

    o Dispute Resolution may result in consent order

 
• Litigation

    o Magistrates Court
    o High Court
    o Documentation required
    o Instructing Attorneys or Collection Agents

This two-day skills-based training course has been developed to provide credit managers and credit controllers with knowledge required to investigate, evaluate and control the credit function of a business in line with the requirements of the National Credit Act.

Course Title 2 Credit Management in line with National Credit Act Classification Business -> Credit Management Course Requirements Price R3850 Notes

Course Information Location COUNTRYWIDE Course Type Customised Start Dates Please enquire Length of Course 2 days Final Registration Date 1 week before course is presented

Contact Details Name PBS College Pty Ltd Phone 0117819727 Email marketingpbscollege.co.za