The speakers will discuss the importance of a properly completed and executed credit application to a creditor’s decision to extend credit and its ability to collect a claim and utilize the risk mitigation tools it had negotiated (such as a letter of credit, credit insurance, consignment and security interest, and guaranty). The program starts with a discussion of the key contents of a credit application and making sure the applicant provides all of this requested information. The speakers will then discuss the importance of including favorable, carefully crafted terms and conditions as part of a credit application and any other contract with the customer to maximize collectability and minimize liability. The speakers will cover the steps creditors should take to ensure their terms and conditions are enforceable and minimize the risk of a battle of the forms. Examples of key terms will also be provided along with a discussion of how those terms can be incorporated as part of the credit application and other contracts.