Business Credit, May 1st, 1998
Businesses which ship on a cash on delivery (COD) basis especially to customers who are not creditworthy are forewarned to make sure that the customer assumes full liability for bad checks or counterfeit bills. Some of these customers define COD as collect on delivery in which the freight carriers disclaim any liability. Vendors are advised to send a reclamation demand letter to the debtor which may qualify for the timing requirements of such a demand.
When selling to difficult or non-creditworthy customers, it is often a good idea to sell on a Cash on Delivery (C.O.D,) basis. However, there ...
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