Credit Data Online : Newsletter

Risk management soultions, Credit Data Online

SPECIAL INTEREST POINTS IN THIS ISSUE

Debtor Monitoring Tools

How to load defaults

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Newsletter Date: 2010/01/28

Issue: 2

Dear $$NAME$$

DEBTOR MONITORING

What are the benefits of making use of Business / Principals Monitoring?

It is a proactive alerting tool to aid you to actively asses and minimise the risk of lending to debtors.

It informs you of any changes to your debtors’ profile, giving you the information you need to keep your business relationships healthy and to take remedial action when necessary. The performance of your business relies on your ability to stay updated on the current status of your debtors.
It allows you to:
o Proactively monitor your debtors’ book.
o Track negative and positive changes to a business.
o Monitor the activities of its principals
o Receive up-to-date information on a company’s position in the in the market.

What criteria are used to monitor businesses?

A Small and Medium Enterprises score (SME score) (ranges from 4 – 7): The score represents the likelihood of business failure within 12 months.
1 = unlikely and 7 = potential to fail is high.
Dynamic Rating: A score card for Blue Chip companies. Represents the likelihood of failure. Range from 1 – 4. 1 = unlikely and 4 = potential to fail is high.
Judgments: (The formal decision made by a court following a lawsuit). As soon as a judgment is recorded on the profile, an alert will be sent.
Defaults: (A debtor has not met his or her legal obligations according to the debt contract). As soon as a default is recorded on the profile, an alert will be sent.
Bank Codes: A subjective code that is supplied by the banks based on the conduct within their clients’ bank account. The banks can only guarantee a bank code for 24 hours The codes are as follows:
o A – Undoubted for the amount of your enquiry
o B – Good for the amount of your enquiry
o C – Good for amount quoted if strictly in the way of business.
o D – Fair trade risk for the amount of enquiry
o E – Figures considered to high
o F – Financial position unknown
o G – Paper occasionally dishonoured
o H – Paper frequently dishonoured
Affiliations.
Business Status: (In Business, Deregistration, Liquidations etc).
Notices: (The legal concept describing a requirement that a party be aware of legal process affecting their rights, obligations or duties).

What criteria are used to monitor principals?

Judgments
Defaults
Notices
Movements
Debt Review

When an alert is generated, it’s e-mailed to you within 48 hours. Management reports, which display a history of all alerts received on your debtors book, are sent out weekly or monthly based on your preference.
Using our monitoring products you can strengthen customer relationships, improve collection strategies and increase profitability.

DEFAULT LOADING

How do I load a default on the Credit Data system?

** Example is for Commercial loading, consumer has same process.

Click on the Default loading tab
A page with the heading Default Loading – TransUnion Credit Bureu will be loaded:
Accept the Terms and Conditions (Tick the box next to Yes, and I accept the Terms and Conditions)
Choose Commercial Loading

Click on the Continue button
Populate information required on this page

DEFAULTER DETAILS

Company Name / Registration number: Search for the company as per normal search in order to match it to the TransUnion database (either by company name or registration number)
VAT number as 0 is it is unknown
Comments: to be populated by Credit Data

ACOUNT DETAILS

Effective date will be the date when the first letter of demand has been sent.
Default type will always be “Handed over”
Action Taken will be “add new default”
Account number will be the your account number
Amount will be the total amount outstanding.

ADRESS DETAILS

Fill in address details
Click on the Submit Default button

IN THIS ISSUE


Debtor Monitoring Tools	1
Default Loading	2

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(0) 11 782 2349
info@creditdata.co.za

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