The contents of business credit application form
The business credit application is an important document that should be signed by the applicant because it contains information about what could be the implications of nonpayment or late repayment of the credit amount. Also the terms and conditions are mentioned in the business credit application form. The following are the important points that are needed to be mentioned in the form:
- Personal Information about the applicant:
The name and address of the business should be mentioned in the form. The address towards which the billing should be done should be mentioned only if it is different from the business address. The contact information should have provision of all kinds of numbers like phone and fax and email address. The date of inception of the business, the duration for which it has been running and last but not the least the owner’s name that is going to make the actual payment.
- Financial details of the applicant:
Talking about the financial details of the customer we must understand that it is of utmost importance as this information will determine if the credited money will be returned or not in future. Amount requested, annual income, recent year’s income tax returns, bank name, account number, bank contact details
- References: at least three in number who must sign in the space provided in the form
- Declaration that information provided in the business credit application form by the customer is correct
- Acceptance of terms and conditions pertaining to nonpayment or late payment of the dues that have been read by the client and signed as well.