What You Need To Know And When: Your Credit Application Presented by: John Samberg, Esq. Bisno, Samberg & Mulvaney LLP

Hypothetical Acme Company vs. Fly-By-Night, Inc.

Acme Company vs. Fly-By-Night, Inc.

The Credit Application Company Name Determine Secured Debt Relations Type of Entity Individual Partnership Corporation

Company Name

Determine Secured Debt Relations

Type of Entity

Individual

Partnership

Corporation

Credit Application Cont. How long in business? How long at present address? Banking Relationship

How long in business?

How long at present address?

Banking Relationship

Credit Application Cont. Trade References Written permission to contact Determine relationship between vendor and customer

Trade References

Written permission to contact

Determine relationship between vendor and customer

Credit Application cont. Dealing with a Corporation Authorized signature Persons Authorized to place orders

Dealing with a Corporation

Authorized signature

Persons Authorized to place orders

Rules to Remember Rule # 1 – Get a Credit Application Rule # 2 – Get a Credit Application Rule # 3 – Get a Credit Application

Rule # 1 – Get a Credit Application

Rule # 2 – Get a Credit Application

Rule # 3 – Get a Credit Application

Credit Application Cont. Attorney Fees Clause Secured Transactions Personal Guarantees UCC’s Writs of Attachments Receiverships

Attorney Fees Clause

Secured Transactions

Personal Guarantees

UCC’s

Writs of Attachments

Receiverships

Credit Application Cont. Conclusion

Conclusion

Bankruptcies Chapter 7 Chapter 11 Chapter 13

Chapter 7

Chapter 11

Chapter 13

REMEMBER Don’t get mad! – Get Paid!

Don’t get mad! – Get Paid!

Law Offices Bisno, Samberg & Mulvaney, LLP 21700 Oxnard Street, Suite 430 Woodland Hills, California 91367-3665 Tel: (818) 657-0300 - Fax: (818) 657-0313 cell:jsamberg@bisnosam.com cell: 818-304-1200 www.bisnosam.com Firm E-Mail Address: [email_address] BSM's attorneys are licensed in CA, NV and AZ, and in conjunction with local counsel affiliations, handle cases throughout the United States

Law Offices Bisno, Samberg & Mulvaney, LLP 21700 Oxnard Street, Suite 430 Woodland Hills, California 91367-3665 Tel: (818) 657-0300 - Fax: (818) 657-0313 cell:jsamberg@bisnosam.com

cell: 818-304-1200

www.bisnosam.com Firm E-Mail Address: [email_address]

BSM's attorneys are licensed in CA, NV and AZ, and in conjunction with local counsel affiliations, handle cases throughout the United States