Credit Policy

Credit Policy

The mission of our credit department is to evaluate the risk that represents an applicant for products and services that are not prepaid. This is so as to maintain a high level of quality of our accounts receivables, by approving clients that represents a prudent credit risk.

To that end, we offer credit terms, in frequency and amount of payments to our clientele so as to approve credit to all applicants on their own terms.

The responsibilities of the Credit Department

Our credit department evaluates credit with the objective of identifying applicants that represents the risk of bad debt, and in consideration that these would be customers have an interest to maintain their telecommunication services in good standing so as to continue to access the functionalities of the service, to offer those applicants adapted credit terms.

The responsibilities of our credit department includes to communicate the terms that are required from an applicant for the approval of their rental application, collections and reporting delinquent and bad debt to the credit reporting agencies such as Equifax, Experian and TransUnion.

Evaluating Credit

The credit department establishes an applicant’s credit limits, those limits may be based on D&B and/or RTW ratings, NACM reports, credit references, financial statements and other information obtained directly from an applicant or with the applicant’s authorization.

Collections

The credit department is tasked with collections.

At the time the applicant orders telecommunication services, the applicant is to indicate its choice of amount and frequency of payments.

The payments are to obligatorily be debited by credit card on specific dates.

Upon approval, the applicant will be allowed to affect payments for services on the required dates by debit cards, checks, PayPal or money order.

The credit department may require the prepayment of an entire year of service to approve an applicant.

Credit reporting

The credit department is responsible to report delinquent or bad debts to the credit companies such as Equifax.

Where an unpaid debt is classified as a bad debt, the credit department will instruct to disrupt the services, and to communicate to the client the request to return rented equipment.

At the same time, the credit department is responsible to refer the bad debt to a collection agency.

Where a payment is returned unpaid by the client’s bank, where a payment is reversed or in any other circumstance that a payment is returned unpaid, the credit department will apply administrative processing fees for each returned item and on each occurrence. At the same time and depending on the circumstances, the credit department may report the debt to the credit companies such as Equifax, require different payment terms, order the cancellation of services and require the return of rented equipment, refer collection of the debt to a specialized collection agency, as well as to take any initiative indicated by the circumstances.

All credit information will be kept in archive for a period of at least 7 years, depending on the market.

Need help?

For more information, please contact a Streamtap Member