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"Credit"
"Credit"
is defined in the Oxford Dictionary (Burchfield, 1989, page
1138) as "belief, trust, faith and credence."
In the commercial sense it is defined as "trust or
confidence in buyer's ability and intention to pay at some
future time, exhibited by entrusting him with goods, etc.,
without present payment".
In
the nowadays business world the word "Credit"
encapsulates a great deal more than the dictionary definition
of the term. R.M.V. Bass's description (Edwards, 1988, page 3)
is: cash flow, marketing tool, liquidity and risk-exposure all
such terms are used to illustrate a basic truth which holds
goods in every period of human history; those with surplus
assets be they cash or goods will use those assets to stimulate
trade.
This
short paragraph not only spells out the nature of credit but
also directs the central issue of modern credit management.
"Our
Mission"
While
"Credit"
has become part of the economy flow, business world and
people's life, stimulating and increasing business and trade
every day, there are companies and individuals misinterpreting,
taking advantage of or even losing control of it.
Total
Credit Management Services Hong Kong Ltd,
since 1987,
has pledged to be the guardian angel of "Credit".
Through
the provision of total credit management services, we are to
preserve a fair and justice credit environment and practices in
the ever-changing economy and business world.
Credit
Management is basically a control function aiming at
controlling bad debts, increasing cash flow and reducing the
interest cost of working capital invested in debtors. Nowadays,
it also plays as an important part in the investment function
(profit contribution) and is an indispensable tool in
generating and increasing business.
Welcome,
you are meeting "Your
Expert in Credit Management" and
we ensure
you
will enjoy a meaningful visit!
Benedict
WONG
Chief
Executive Officer
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