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BRIEF HISTORY OF CREDIT AND ITS DEFINITION !"#$# # #% #" #& '( ) # "*##$# !" +,( +$' $ ' -( ( (' $#+' - # (++( $.$ $ $ ,$ "# + ( +#(( # # (' - /0 - # $ 1 - -" ,1%(/" ,1 ,1 -,(' $#0+#,"(2 ,11+% / " - +### ,$("#"0 ##%+/ '0 ,(",($ +#+"*$##" #$$#,('# *'( %%$%++"% ," ' ,(' + -#%#$,#+(- $$ # #+( 3 4 4%++(%#% 5 +%,$"+((1 6 $ (#+-+%,1 7 8+" ###+"$," , 9 8$##( +,%1 : ((9"+'-$(("$(' ; ' $##((+''*% , $'$( $ $% + +,(#% (( +$%$-: 3 4(+($, 5 + $ + .$(("' 6 ;+%% -(("$,",+' : -$( , , +,(# ," ( ' ++("% # ,%-$+++$#%# /$+' ,2+$$0 3 ,+' 5 8$ 6 ($$" 7 (' < 3 * 5 8+(' 6 ,("!" 7 4# 9 1 ELEMENTS OF CREDIT !" =4 3 ( ,$ -(,"#1$(,( +$'+$+ 5 '#+,"+ ###+(' ' 6 (+ + +$ +- "##,,$##$" 7 ,( ## $#+' ," + #(-((, 9 (+ + # ++$' $ $'% >, >, ' ? + + $ #" @ #1+,(,-$ A (+ ,$" ,# # $# =4 3 %'#%$+$(' 5 (,$ (+++(-, 6 $ % #" +$ + 7 $ , + +(" $$ ($('$ -##'"+ :#(% 1 B # ## # #5C3D6D 8 E $#, " $'( $(( +"#.$ $ E + $ # +$ + ,$" +" - +*'#+ $ 8 E $#, " F , + $ -$(,( [...]... purchase is released Credit investigation This task is performed by the credit investigator who has the main objective of verifying and evaluating the applicant’s character, credit standing and integrity through the process of data gathering of all essential facts The request for the Credit Investigation Report (CIR) may come from any of officers/department of the bank for any of the following purposes:... 1.Financial resources of the company 2.Philosophy of the management 3.Organizational size and structure 4.Complexity of credit transactions 5.Approval Limits General Policies on Credit 1.Approval authority 2 .Credit Limits 3.Loan-to-market value ratios 4.Past due limits 5.Territorial limits 6 Single Proprietor vs Corporation 7 Other side agreements imposed by lender 8 Separation of credit from marketing... prospects of industries for better or more effective financial and credit evaluation of cash flow projections and FS submitted to the bank 4.Works continuously on the revision of present and future credit rating sheets of credit evaluation reports to cope up with the changing economic or financial situations 5 Assists supervisor in discharging his/her duty in time of heavy work load Junior Credit Analyst... operations The 4 C’s of Credit 1.Character 2.Capacity 3.Capital 4.Collateral Credit Decision-Making The short credit process 1.Initial discussion between the lender and borrower 2.The borrower signs an application form and an authorization for the credit department to conduct credit inquires 3.The lender conducts an initial interview, using the credit application as guides, and evaluate the documents submitted... from its bank if the L/C contains the terms and conditions it has prescribed Step 8 Satisfied with the L/C, the exporters will deliver the merchandise ordered to the Shipping line Step 9 The shipping line acknowledges receipt of the merchandise for shipment to Vietnam and prepares the bill of lading and other documents which are then sent back to the exporter Step 10 Exporter submits the shipping documents... Department Stores f Individual Money Lenders DOCUMENTS IN CREDIT TRANSACTIONS A.Documents for Credit Evaluation Document that are used in credit transactions could be classified into 2 major types: 1 those used for credit evaluation to eventually approve or disapprove an applicant 2 those used to document an approved credit transaction Documents Required for Credit Evaluation Initials Used: ITR-Income... Statements BOD – Board of Directors OCT – Orig Certificate of Title SEC – Securities and Exchange Commission F/S – Financial Statements DTI – Department of Trade and Industry SN – Serial Numbers TCT – Transfer Certificate of Title Documentation and Instruments used for Approved Credit Application Promissory Note – it also called as P/N or Pronote It is the most solid evidence of debt This can be negotiable... accommodations or credit line 2.On clients applying with International Banking department to secure availment of L/C, trust receipts and others 3.On clients opening current or checking account/savings account 4.On co-makers and guarantors for credit 5.On beneficiaries named in the L/C 6.On prospective buyers of assets acquired by the bank The scope of credit investigation Factors: 1 Purposes and types of investigation... 2.Company credit policy 3 Client Classification 4 Amount involved 5 Time and resource constraint Generally, the scope of credit investigation covers and includes the following: 1.Company’s background and history 2.Financial condition 3.Dealings with government lending agencies 4.Bank’s experiences with the subject 5.Court cases The Credit Work Supervisor 1 Handles the over-all supervision of his section...CLASSIFICATION AND SOURCES OF CREDIT There are equally important purposes in the classification of credit, first, as a quick guide to those who need them, as to where and how to get them, and second, to guide those who provide them as to where to find these users of funds Credit is generally classified according to purpose for where the loan funds are intended to be used: 1.Agricultural Credit a Time . BRIEF HISTORY OF CREDIT AND ITS DEFINITION . 8+(' 6 ,("!" 7 4# 9 1 ELEMENTS OF CREDIT !" =4 3