This award forms the first part of the Certificate in Credit Management. Delegates may complete the Foundation Award in Credit Management on a stand alone basis or as part of the Level 3 Certificate in Credit Management.
The Foundation award is composed of five topics which are designed to provide a basic understanding of the concepts, processes and techniques which underpin best practice across a range of credit environments.
- 1. Nature of credit
- Definition of credit
- Cost of credit
- The credit department
- Credit policy
- 2. The credit process
- Customers
- Credit agreements
- Payment terms
- Documents
- 3. Systems
- Customer master file
- Sales ledger system
- Computerised systems
- 4. Credit risk
- Risk assessment and control
- Information sources and their value
- Scoring
- Insurance
- 5. Collections
- Targets and use of resources
- Methods
- Dealing with problems
- Legal procedures and use of third parties
EXAMINATION
The examination will take place during the ICM examination week in june 2008.