Document background
The Client Credit Policy serves as the foundational document for managing credit relationships with customers in the Philippine business environment. It is essential for organizations that extend credit terms to clients, providing a structured framework for credit assessment, approval, monitoring, and collection processes. The policy ensures compliance with Philippine financial regulations, including BSP requirements, the Financing Company Act, and relevant consumer protection laws. This document is particularly crucial given the unique characteristics of the Philippine market and its regulatory environment, helping organizations maintain sound credit practices while managing risks effectively. The Client Credit Policy typically needs regular reviews and updates to reflect changes in business conditions, regulatory requirements, and risk appetite.
