SOP Template KitCustomer Credit Approval SOP
Extend credit only to customers likely to pay.
The full Customer Credit Approval SOP (all 5 steps, 2 controls, records and measures) is one of 36 editable Word SOPs in the SOP Template Kit: $79.
| Document no. | SAL-05 | Department | Sales & Customer |
1. Purpose
Extend credit only to customers likely to pay.
2. Scope
New customers requesting payment terms, and limit increases.
3. Roles and responsibilities
| Role | Responsibility |
|---|---|
| Sales Rep | Requests terms. |
| Credit Controller | Assesses and sets limits. |
| CFO | Approves large limits. |
4. Procedure
| Step | Who | What to do |
|---|---|---|
| 1 | Sales Rep | Submit a credit application with trade references and requested limit. |
| 2 | Credit Controller | Check credit report, references and public financials. |
| 3 | Credit Controller | Set limit and terms within authority; above [$50,000] the CFO approves. |
| + 2 more steps, 2 controls, 1 records and 2 measures in the full SOP. | ||