Credit Control Process All Territories (SARL & LTD) 20/06/2017 Rosanna Bullivant (Digital Project Manager)

Introduction Glossary Payment Terms Processes Overdue Invoices New Business – no payment terms New Business – payment terms Existing Business Overdue Invoices Golden Rules

Glossary Payment Terms On Account Immediate Payment (Pro forma) Days to Pay (including End of Month –EoM) Credit Limit Minimum Payment Limit Account Tokens

Payment Terms – UK Accounts Credit Rating (out of 100) Payment Type Days to Pay Credit Limit Min. Payment Limit 71 – 100 (A) On account 14/21/30/30EM Yes 51 - 70 (B) 14 < 50 (C/D) Immediate No

Payment Terms – All territories (not UK) Credit Rating (out of 100) Payment Type Days to Pay Credit Limit Min. Payment Limit 51 – 100 (A/B) On account 21/30/30EM Yes 300 30 – 50 (C) 21 <29 (D) Immediate No

New Business – no payment terms Create new account on Bakewell Do not request payment terms (Sales/Ops) Account will be created with 0 days to pay 0 credit limit 0 min. payment limit (Credit Control) Create Proposal and send to client for confirmation Ask client for immediate payment Process order as normal Client can place order via website and pay immediately Process order as normal

New Business – Payment terms Create new account on Bakewell Request payment terms (Sales/Ops) Credit Control receives an email so they can: Run Credit Check Set payment terms Create credit letter (UK only) Send email to Account Manager with confirmation and credit letter if applicable (Credit Control) UK ONLY Send credit letter to client to sign UK ONLY Send signed credit letter back to Credit Control Process order as normal All territories except UK

Existing Business – Create or amend payment terms Request payment terms in Bakewell (Sales/Ops) Credit Control receives an email so they can: Run Credit Check Set payment terms Create credit letter if required (UK only) Send email to Account Manager with confirmation and credit letter if applicable (Credit Control) UK ONLY if necessary Send credit letter to client to sign UK ONLY if necessary Send signed credit letter back to Credit Control Process order as normal All territories except UK ** Please note that only when Accounts have run the credit rating and assigned payment terms, can the client account be opened

Invoice forwarded to AM to chase* Overdue Invoices Days overdue Dunning Level Action Order 1 Email Yes 1-7 2 7-14 3 No 14-30 4 Invoice forwarded to AM to chase* 30+ 5 Debt collector

Golden Rules When accounts are created in Bakewell – all billing details MUST be added correctly and kept up to date If an account has 0 days to pay, we cannot offer pro-forma invoices at the moment. Use proposal and invoice once payment has been paid – UK only? AM needs to help accounts chase for payment after 3rd Dunning Level sent out Please help Accounts assign any unknown payments