Page 33 - Gulf Coast Division - Training Manual 5 -18

PAGE NUMBER
Ben E. Keith Company POLICIES/PROCEDURES DOCUMENT NUMBER
1 of 8
501
DATE ISSUED
SECTION: 5.0 CREDIT 11/1/2005
SUBJECT: CREDIT POLICY ORIGINATING DEPARTMENT
CORPORATE

I. PURPOSE

To establish a uniform Credit Policy that ensures sound management and control
of Food Division trade receivables.

II. STATEMENT OF POLICY

All Food Division DSR’s, DSM’s, Credit Managers, and other employees
responsible for credit and collection activities must strictly adhere to the
procedures outlined within this policy.

III. CONTENTS
The following sections describe the procedural details and instructions to be
followed in implementing this policy.

1.0 Definitions

2.0 Credit Terms

3.0 Credit Applications

4.0 Credit Cutoffs

5.0 Commission Reductions

6.0 Bad Debt Chargebacks

7.0 NSF Checks

8.0 Prohibitive Actions

9.0 Receipt and Authorization

1.0 Definitions

1.1 An invoice is the delivery ticket which is to be signed by the person or company
receiving the merchandise.

1.2 A statement is a statement of account delivered, mailed, e-mailed, or faxed to the
customer, from which payment is to be made.

2.0 Credit Terms

2.1 There are ten different credit terms:
a. CASH (CASH) – these accounts are payable upon receipt of the
merchandise. Payment may be made by U.S. Currency only – checks are
not acceptable from these customers.

REVISION DATE OF LATEST REVISION SUPERSEDES ISSUE DATED
07/01/2015 07/01/2015 07/01/2014
APPLIES TO
Entire Company Food Division Only Beer Division Only Other (see text)