Five objectives of a credit policy are listed as follows:
1.To ensure consistency in the processes and procedures used to manage all credit aspects of an organization. /
2.To ensure that the expectations of the management of an organization and the credit department are aligned and met consistently. /
3.To ensure that all customers are treated fairly when making credit decisions./
4.To provide for succession management and training if credit personnel leave the business./
5.To evaluate credit decision making and adjust as circumstances warrant.
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