How to Write a Credit Reference Information Form to Establish Account Pay Terms Terms with another Business

Making a Form to SET Up Payment Terms

By TurtleDog

 

Hi! If you have a small business and are tired of running up your credit cards, you may want to consider establishing credit terms and payment terms with your best suppliers. To do so you'll need to create a Credit Information form. Please read on to learn How to Write a Credit Reference Information Form to Establish Account Pay Terms with another Business

Difficulty:

Easy

Instructions

1. • 1
     Using the help of a printing service or word processing program, create a form with your company logo or letterhead at the top
   • 2
     Below that, type COMPANY ADDRESS: and enter your company address
   • 3
     Below that write BUSINESS: and type in one short sentence describing your business
   • 4
     Below that type FEDERAL TAX ID: and enter your federal tax ID number
   • 5
     Below that type DUN & BRADSTREET: and enter your Dun and Bradstreet number
   • 6
     Below that, if applicable, type WEBSITE: and enter your website
   • 7
     Type BANK REFERENCE: and enter your bank, your bank address your a/c # (ask your bank for the appropriate number) and an email or fax where your supplier can send inquiries. Typically inquiries are sent to the bank's credit information exchange. Ask you bank if you aren't sure.
   • 8
     Below that type BUSINESS AND TRADE REFERENCES: this is important... pick three (3) businesses that you have a great relationship with AND that you pay your bills super-on time with. Put their address and phone number on your Credit Information form. Be sure to give them a head's up that you are doing this and that it is OK. Businesses you are trying to establish credit and pay terms with will call these guys for references .
   • 9
     You may want to add a statement at the very bottom of the form with something like "If any additional information is necessary, please feel free to contact _____________" (enter the appropriate person in your company to contact as well as their phone number)
   • 10
     I hope that helps! Thanks for reading my How to Write a Credit Reference Information Form to Establish Account Pay Terms with another Business