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Questions and Answers
What is one technique to secure your position with risky customers?
What is one technique to secure your position with risky customers?
- Giving the customer a longer payment period
- Providing a discount on the product
- Asking for a partial payment in advance (correct)
- Offering a payment plan
What are letters of credit?
What are letters of credit?
- Facts about the customer
- Payment mechanisms
- Documents that secure payment (correct)
- Guarantees from the bank
What is a security interest?
What is a security interest?
- A loan given to the customer
- A guarantee from the customer
- A lien covering goods sold to the customer (correct)
- A payment plan agreement
What is a guaranty?
What is a guaranty?
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What is a mechanics lien?
What is a mechanics lien?
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What is the purpose of joint checks?
What is the purpose of joint checks?
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Is a standby letter of credit a guarantee?
Is a standby letter of credit a guarantee?
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