Commercial Portfolio
Alejandra MarroquĂn 5th Bilingual
Credit and Collection Letters
Credit Letters • Credit involves purchasing and receiving goods without immediate payment. There are five types of credit correspondence:
1. 2. 3. 4. 5.
Applications for credit Inquiries about creditworthiness Responses about creditworthiness Letters granting credit Letters refusing credit
Applications • Consumer applications for charge accounts, with businesses such as department stores or gasoline companies, are usually made be filing out an application form. • A letter of this kind should include credit references (such as banks and other businesses that have extended credit).
Chocolate & Candy Store 609 San Anselmo Avenue San Anselmo, California 94960
June 11, 2014
MEDLANIE’S KITCHEN, INC. 10 French Market Place New Orleans, Louisiana 70153
Dear Gentlemen and Ladies: We would like to place an open account according to your regular terms. Our store has been open for one year, and you can check our credit rating with Mr. Alejandro Marroquín, branch manager of the Banco Industrial, S.A. (399 North Canon Drive, Beverly Hills, California 90210). companies: • • •
You may also check our credit standing with the following BON BEC ( 1160 State Street, Chicago, Illionois 60688) CANDY TRADERS, INC. (1133 Third Avenue, Flushing, New York 11217) KRON, INC. (312 Lexington Avenue, New York, New York 10021)
If you would like more information about our credit record, we could send you more references. Please let us know what will be your final decision. Sincerely yours,
Milton Cifuentes Manager Alejandra M.
Credit Inquiries • Such bureaus keep files on people and businesses whose credit references and histories they have investigated.
• When they determine an applicant's credit standing (that is, reputation for financial stability). They give the applicant a credit rating.
MEDLANIE’S KITCHEN, INC. 10 French Market Place New Orleans, Louisiana 70153
June 11, 2014
Mr. Alejandro Marroquín Branch Manager BANCO INDUSTRIAL, S.A. 399 North Canon Drive Beverly Hills, California 90210 Dear Mr. Marroquín: Chocolate & Candy Store, 609 San Anselmo Avenue, San Anselmo, had placed an open account and listed you as a credit reference. We would appreciate your sending us information regarding Chocolate & Candy Store´s credit rating. We would specially like to know: how long have you known him, the amount of their credit operations and his payment habits. We will, of course, keep any information we receive in the strictest confidence. Please send us this information before June 19. We appreciate your cooperation; a reply envelope is enclosed for your convenience. Sincerely yours,
Martin Gómez Credit Department
Alejandra M.
Credit Responses • Some companies request specific information like: the amounts owed and presently due, maximum credit allowed, the dates of the account´s opening and last sale, and the degree of promptness in payment.
• Opinions should be expressed discreetly.
Credit-Granting Letters • When all references are favorable, a letter is sent granting credit to the customer. Whether for a consumer charge account or a dealer open account, the acceptance letter: 1. Notifies the customer of the credit approval. 2. Welcomes the customer and expresses appreciation. 3. Explains the credit terms and privileges. 4. Establishes goodwill and encourage further sales.
Credit-Refusing Letters • Sometimes, of course, credit must be denied. A letter refusing credit must give the customer a reason, the reason may be expressed vaguely. • Therefore, the tone must be positive and in some way “youoriented.” In addition, it is a good idea to suggest that the customer reapply for credit in the future.
Manson’s Department Store 1135 State Street Chicago, Illinois 60688
July 9, 2014
Ms. Hiroko Osawa 6061 Valentine Lane Yonkers, New York 80301
Dear Ms. Osawa: Thank you for your application for Manson’s Department Store; however, we believe it is not the right time to acquire more debts. A standard review of credit applications includes checking accounts, savings accounts, and any debts that you may have outstanding. We noticed that you have a good credit record and your debts are paid. However, we notice that your employment history is unstable, for this reason we consider that the extension of the credit would affect your finances. Of course, Ms. Osawa, you are always welcome to buy from our company. And in the future, if you wish, you can apply again for terms of credit. We will gladly reconsider your application. Sincerely yours,
Sharon Martínez Manager Alejandra M.
Collection Letters
Collection Letters • A collection letter is how to demand payment and still keep a customer. The writer of a collection letter wants to get the money owed and maintain goodwill.
• Collection letter should be persuasive rather than forceful, firm rather than demanding.
Step 1 • The monthly statement reminds the customer of outstanding bills.
• If it is ignored, it should be followed be a second statement. It should contain a notice stating “Past Due” or “Please Remit”.
Step 2 • The second collection message, however, should still be friendly. It should seek to excuse the unpaid bill as an oversight; the tone should convey the assumption that the customer intends to pay.
Step 3 • The next letter in the series is still friendly, but it also now is firm. This letter inquires about the reason for the delay. • The third collection message also makes an appeal to the customer´s sense of: 1. Fairness 2. Cooperation 3. Obligation Or desire to: 1. Save her credit reputation. 2. Maintain her credit line.
Step 4 • Ultimately, payment must be demanded. The threat of legal action or the intervention of a collection agency is sometimes all that will motivate a customer to pay.
In-House Correspondence
The Interoffice Memorandum • Memorandums, usually called memos, are used for short, relatively informal messages between members of the same organization. • The memo provides a simplified, standardized format for communicating information concisely. The tone of memos tends to be more informal.
Beneath this, four basic subheadings are used: The TO: line • Indicates the name of the person to whom the memo is sent.
The FROM: line • Indicates the name of the person sending the memo.
The DATE: line • Indicates in standard form the date on which the memo is sent.
The SUBJECT: line • Line serves as a little and should briefly but toughly describe the content of the memo.
Standard Electric Corporation MEMO To: Penelope Louden FROM: Clarissa Woolf DATE: June 20, 2014 SUBJECT: Vacation Schedule As you requested a schedule of the data processors’ planned vacations, here it is:
PROCESSOR
DATE
Josie Thompkins Calvin Bell Stephen James Jennifer Coles
July 1-15 July 15-29 July 22 – August 5 August 12-26
During the week of July 22, Mr. Bell and Mr. James will be on vacation, and the rest of weeks there will be at least three processors. If you would like to arrange for a temporary processor for that week, please let me know. CW
Minutes • Minutes are written record of everything that transpires at a meeting. They are prepared for the company files, for the reference of those in attendance, and for the information of absentees.
• The secretary may include complete versions of statements and papers read at the meeting.
Minutes of the Meeting of U.S. CHAMBER OF COMMERCE American Policy Toward Cuba May 4, 2014 Presiding: Alan Warsaw Present: 102 (All officers were present) Absent:
13
The special meeting of the U.S. Chamber of Commerce of the American Policy Toward Cuba was called to order at 2 P.M. in the Sunset Ballroom of the Miami Hilton by Warsaw. The minutes of the meeting of April 26, 2014 were read by Sara Smith and dispensed with. Officer ReportsAurora Bonilla, U.S. –Cuba Economic Council of Houston, reported on increase in the number of American business representatives legally traveling to Cuba. She mentioned they quadrupled over the last five years. She outlined current legal business transactions between U.S. businesses and Cuba, mentioning that AT&T is the largest for access to Cuban long-distance telephone market. John Ross, PDR Corporation, reported on the trade show hosted by Fidel Castro and his top ministers for representatives of major U.S. corporations. He noted that the Cuban government is eager to do business with American companies. He mentioned that the Cuban market for basic goods and services is estimated between $2 billion to $4 billion a year. The director, Alan Warsaw, outlined the advances made by America´s trading partners including companies from 25 countries. Canada, Italy, and Mexico have announced deals worth over $5 billion. MotionsThe director asked the committee to draft a resolution advocating a change in American policy. The motion was made and it was decided that the current legal advisory council will be constituted by the committee and headed by the director. The motion to meet again to vote on the committee´s draft resolution was made and approved. The meeting was adjourned at 4:10 P.M. Respectfully submitted, Lorena Lopez
Minutes of the Meeting of LABOR GRIEVANCES COMMITTEE Slate and Johnson Luggage Company September 23, 2014 Presiding: Falk Present:
Baum Dulugatz Fenster Garcia Penn
Absent:
Sun
The monthly meeting of the Labor Grievances Committee of the Slate and Johnson Luggage Company was called to order 4 P.M. in the employees’ cafeteria by Mr. Falk. The minutes of the meeting of August 21 was corrected, Ms. Dulugatz, not Ms. Penn, to conduct study of employee washroom in warehouse, it was approved and corrected. Mr. Fenster presented the results of a survey of office employees. But most of the frequent complaints agreed on. Mr. Fenster will arrange to present these complaints to Board of Directors.
Ms. Dulugatz presented the report on condition of warehouse employee washrooms; this was accepted by the editorial revision. The next meeting will be held on October 22, at 4 P.M. in the employees’ cafeteria. The meeting was adjourned at 5:15 P.M. Respectfully submitted,
Alejandra Marroquín, Secretary
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Pictionary 1
Word
Adequate
Definition
Example
Sufficient, enough
She was adeq uate to the Job.
Secret, private
This arrangem ent must be kept confidential.
Showing good judgment, prudent
His trusted discreet aide.
Giving an unjustly unfavorable impression of a person or thing
She alleged the magazine has libeled her.
Unpaid
We have outstanding stocks and bonds.
Discount, return of part of a payment
You may be able to claim a rebate on your rent.
Confidential
Discreet
Libel
Outstanding
Rebate
Picture
Pictionary 2
Word
Definition
Example
Understandable
The town is accessible by bus.
List, schedule
My secretary takes note of each important date.
To give out
We have to dispense about the new contract.
Proposal
He received his motion the last week.
Relevant
She asked me a lot of very pertinent questions.
To act as chairperson, to lead
The lawyer presided over the estate.
Accessible
Agenda
Dispense
Motion
Pertinent
Preside
Picture
Word
Resolution
Definition
Example
Statement of a decision or opinion
It was his uns hakeable resol ution to finish the work.
To take place, to happen
Several import ant events transpired last week.
In the same words
He gave me a verbatim report of the entire convers ation.
Transpire
Verbatim
Picture