Category: Business Description: iSales Risk Tools app was created using Appy Pie, World's #1 App Builder for creating Android & iPhone Apps. It is a Business category app. Click below to download the iSales Risk Tools app.
0/10 for Best Business appBased on votes & user reviews
Tool kit that empowers Sales with 'on-the-go' solutions to mitigate credit and contract risks.
Founded : 2014
Open Account - What to Request
Bonds - What to Request
Price fixed and determinable
Fixed delivery schedule
Risk of Loss passes to customer when shipped
Title passes to customer
If a project, milestones
If a project, progress payments for milestones reached
If a project, ownership passes to customer as milestones reached
Contractual Red Flags
-Title passing to the customer while the Company maintains risk of loss or being the named insured under an insurance policy.
- Seller would provide for replacement parts, waive its invoice amount, or give credit if the goods were damaged during transit and the buyer had title and risk of loss during transit (any value).
- Taxes are only to be collected by the buyer at the end of the project.
-If the buyer specifies an intermediate delivery site but a substantial portion of the sales price is not payable until delivery is made to a final site.
-Not signed by all authorized parties.
-Subject to subsequent approval or execution of another agreement (e.g., a project submittal approval process).
-The customer and seller entered into a side agreement (written or oral).
- Sale is cancelable without penalty for the goods or services provided to the buyer
- Provisions exist that indicate that the price to be paid by the buyer is not fixed or determinable.
-Certain contingencies and/or future performance criteria may call into question whether or not evidence of an arrangement exists. Examples include:
1) approval is required from someone higher in the customer organization
2) payment for goods is delayed until product is sold by the customer
3) customer has rights to require the Company to repurchase the product at a fixed price
4) the product is delivered for demonstration purposes – seller is permitting the buyer to use the product on a temporary basis in order to decide whether or not to purchase the product.
- Length of payment terms are not normal or consistent with the business practice.
- Bad debt risk is encountered during the contract.
What to request
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