You must know that managing risk starts before you even supply goods or services.
With your New Customer Form / Credit Application, you get a proper foundation to get the right information and legal safeguards in place.
This form simplified the verification process of who you are dealing with. It also lets you obtain a director’s guarantee.
You get the ability to pursue directors personally in case the company fails to pay.
If you provide credit to customers, you must ensure they complete and sign a detailed Credit Application Form before any work or supply occurs.
It is an important step because it ensures you gather accurate details and secure the appropriate legal clauses for future debt collection. Recovering unpaid invoices can be very challenging without it.
We customise the form to match your branding. We personalise business information, colours, and logo. It gives a credible and professional appearance.
It becomes a powerful tool that not only safeguards your business but also sets a clear and transparent expectation for your clients from the outset.
Extending credit means extending trust, and this trust should be based on accurate information.
A comprehensive Credit Application Form helps you obtain a clear picture of who your customer is, how their business operates, and whether they have a reliable payment history.
With this form, you can get business addresses, ABN/ACN details, contact information and trading history. All of these critical data points help to assess the creditworthiness.
With this information, you can run credit checks, review financial reports, verify trade references, and identify any red flags before engaging.
When you know your customer properly, you will be able to avoid financial losses and determine the appropriate payment terms and credit limits.
Many businesses are unaware that they cannot automatically charge a customer for recovery fees unless it is clearly stated and mutually agreed in writing before supply.
To legally pass on your debt-recovery or legal costs, your Credit Application Form must include a well-constructed clause that outlines this agreement.
To protect your business, you must ensure:
Company insolvencies are increasingly common, and creditors often struggle to recover funds once a business collapses.
A personal or director’s guarantee provides a crucial additional layer of protection. When a director signs this guarantee, they are personally committing to repay the company’s outstanding debts if the company cannot.
To ensure this guarantee is enforceable:
A well-designed Credit Application Form is more than just documentation. It is the prime part of the financial defence system.
The information you collected at the start becomes vital evidence that supports your recovery actions if customers default.
When you have complete and clear documentation, your position gets stronger when negotiating repayments, taking legal steps and initiating collection processes.
By ensuring your customers acknowledge and agree to your terms, you reduce disputes, minimise delays, and increase the likelihood of full payment.
It allows you to legally charge recovery fees and interest on late accounts.
Helps to avoid the high expense of legal drafting and professional design.
Customers automatically accept your terms upon signing, which eliminates ambiguity.
Once you have the form, you can use it as many times as you need it without additional cost.
The form is very user-friendly. In case your clients face any difficulties filling it, this can be a major warning.
A polished, agency-style design reinforces your credibility and sets a serious tone.
It helps clients to complete and sign digitally for quicker onboarding and reduced paperwork delays.
Anyone using this form should ensure that it is reviewed by their own legal representative to confirm it is appropriate for their business needs and circumstances.
