Credit City is quickly moving forward & we are on schedule for launch at the end of January 2010. This new service will assist industry suppliers in accessing the payment profiles of distributor companies. We have now identified all of the legal obligations & we can ensure our system fully complies. The website construction has commenced & should be ready to see early January. We have also come up with a simplified way for the collection of payment data from all suppliers. We expect this to be ready during next week. We see the new service as being a benefit to Suppliers & Distributors alike. At present suppliers rely upon credit rating services which are usually out of date & more importantly are reports based upon historical submitted accounts. We will be the first industry service to indicate the current payment profiles of distributors, which in turn will install confidence in suppliers to extend credit terms. Suppliers have clearly indicated that they have tightened all lines of credit, which of course has negative effects on distributor’s cash flow. This new service will enable suppliers to increase credit terms to distributor with solid payment profiles. If you are supplier who may be interested in this new service, please let us know now, as their will be benefits to you for getting involved early.

Published on: December 1st, 2009