Credit Tools

Tarnell's standard business reports are key in giving you an edge in all of your transactions. Use our reports, databases, news, and scores to help pre-qualify prospect accounts, minimize risk, enhance credit and customer relationship management.

Tarnell offers the following additional services, tailored exclusively to your needs in mitigating your plastics industry risk.

CreditWatch

Tarnell's CreditWatch is a unique account monitoring and alert service advising you of any event potentially affecting your customer transactions.

These daily e-alerts may be triggered by, but not limited to, the following:

• Bankruptcy and insolvency
• New and/or increased supplier interest
• Increase in days-to-pay
• Disputes
• Accounts placed for collection
• Merger, acquisition, ownership changes
• Disasters
• Loss of key customers
• Increased purchasing activity
• Change in financing

Credit Groups

Tarnell facilitates peer-to-peer virtual credit groups, affording candid and confidential exchange of information that allows creditors to minimize their risk by avoiding bad debt.

• Direct exchange of up-to-date information on current and potential customers
• Exchange of information and opinion on industry topics
• Networking opportunities

Credit Sentry

A combination of comprehensive financial reports and high-priority account monitoring designed to maximize understanding of vital accounts and alert Credit Managers to changes in accounts that may result in increased risk.

Available at multiple levels of monitoring, as a stand-alone service, or in concert with other Tarnell reports & services.

Credit Insurance

Credit Insurance protects your accounts receivable from losses caused by customer insolvency or protracted default (i.e. slow pay). 

The primary benefits are as follows:

• Protection from catastrophic credit losses
• Ability to grow your business by offering
• Higher credit limits
• Longer terms of sale
• Open account sales to export markets
• To improve borrowing power where the lender is restricting availability due to:
  • customer concentrations
  • foreign receivables
  • extended terms of sale
• Credit insurance premiums are tax-deductible, reserves for bad-debt are not
• Credit insurance is less expensive than letters of credit

Policy types:

• "Whole Turnover" - insuring virtually all accounts
• "Key Account" - insuring only the largest customers
• "Single Customer" or "Selected Customer" - insuring only a single account. Smyth Trade Credit will help you determine strategy and evaluate products from all domestic and international carriers. We will demonstrate for you how these programs are often self-funding, while reducing overall bad debt expense, and increasing/protecting profits.

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