Page 37 - Gulf Coast Division - Training Manual 5 -18

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

g. Net 45 accounts with any balance 46 days or older.

h. NET 60 accounts with any balance 61 days or older.

i. EOM accounts with any balance 51 days or older.

j. GOV accounts with any balance 61 days or older.

5.3 Accounts that are past due will be summarized and the DSR will be notified of them
and what the late charge deduction will be on his/her next payroll check.

5.4 The late charge deduction will be computed by multiplying the dollar amount of all
accounts past due by 1.0%.

5.5 The late charge deduction will be computed based on the end of the month ageing.
The late charge will be assessed without regard as to whether the DSR is on a salary
or paid a commission.

5.6 The commission reduction procedures outlined in this section are mandatory and
automatic. Individual exceptions cannot be made without written request from the
salesperson, approved by the Branch Credit Manager and the Branch General
Manager.

5.7 No commission will be paid for any sale made on credit before a credit application
has been properly submitted and approved.

5.8 No commission will be paid for any sales made on credit after an account becomes
COD or CASH.

6.0. Bad Debt Chargebacks

6.1 If an account is so delinquent as to be charged off, at the General Manager’s
discretion, up to twenty-five percent (25%) of the amount charged off shall be
deducted from the salesperson’s pay, accumulated commission, or bad debt reserve.

Before an account is charged off, the salesperson will be given written notice and
thirty (30) days in which to collect the full amount due or to get a reasonable payout
plan established. Any payout plan must be approved by the Branch Credit Manager
before it is presented to the customer.

If the DSR, through their individual effort, can collect a delinquent account before it is
placed for collection, the Credit Manager may at their discretion elect to refund the
25% bad debt deduction. If the DSR does not collect the account and it is turned
over for collection, no refund of the 25% bad debt deduction will be made for
payments later received.

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)