n Without Prejudice - Managing credit risk through suretyships : financial law
|Article Title||Managing credit risk through suretyships : financial law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Affiliations||1 Edward Nathan Sonnenbergs|
|Publication Date||Nov 2011|
|Pages||12 - 13|
Suppliers who grant credit to their customers ought to take steps to ensure that the prospects of recovery of these debts are as certain as they can be. A customer's continued profitability and financial security is never guaranteed, even where liability for the debt is admitted. This much is particularly apparent in times of economic downturn. Once flourishing and valued customers, who were granted credit facilities, might now find themselves unable to meet debts to longstanding suppliers, in contrast to years of excellent credit histories.
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