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New customers should complete a credit application whichshould be checked through a credit agency with a credit limitset. Once authorised by the sales director, the limit should be entered into the system by a credit controller.
maam would the credit limit also be set by the external credit rating agency which is responsible for reviewing the credit worthiness of customer or the sales staff would do that? because ether above statement doesn’t give clarity on that.
It’s the supplying company that sets a credit limit for each customer – it may have a company policy of a “cap” (i.e. maximum amount) on credit it will allow to any one customer.