References

Credit Research Foundation's
Glossary of Business, Accounting, Legal, Financial, Administrative, Operational and Technological Words and Phrases

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Credit Matters - selections from the Credit Research Foundation library
The following files under this heading are mainly PDF files and require Adobe Acrobat Reader to view them. Some of the files are Microsoft Word documents. If you experience difficulty downloading, right click on the document and save it on your hard drive, then open in MS Word.


Links to other relevant references:

Check 21 Information provided by NACHA - The Electronic Payment Association
The Check Clearing for the 21st Century Act (Check 21 Act) facilitates significant change in the way checks are processed in the United States. All banks will be affected by this law even if they do nothing to change their current check processing operations. All customers (consumers and businesses) are affected by the Check 21 Act in that they have the potential to receive a substitute check.

To help educate customers, and to help train bank staff, the financial services industry associations have come together and developed this Resource Document that contains an overview of Check 21, common terms with definitions, examples of substitute checks, where substitute checks will be found and a list of industry resources. Using common material such as the information in this document will help reduce customer confusion.

Check 21 Will Lead to Savings of Time, Money
By William Poole
Any kinks can be worked out, just as they were with credit cards, debit cards, ACH and other forms of electronic payments. In the end, check imaging will lead to a more-efficient payments system, which is good for the economy overall.

Common questions about Recessions
Understanding recessions and their effect on the economy is an important element in credit management. The following information is provided by the National Bureau of Economic Research (NBER). The NBER is a private, nonprofit, nonpartisan research organization dedicated to promoting a greater understanding of how the economy works.

Electronic Invoice Presentment and Payment (EIPP). The information in the following two documents is designed for billers, payers, financial institutions, technology providers and other industry participants.

Part One - Electronic Invoice Presentment and Payment (EIPP) Presentment Models. Electronic Invoice Presentment and Payment (EIPP) - the process by which companies present invoices and make payments to one another through the Internet - is a promising tool in the business-to-business (B2B) environment that has not yet achieved significant adoption rates. This file appears as written in the CRF journal, The Credit and Financial Management Review.

Part Two - This is the second of a two-part paper entitled Business-to-Business EIPP: Presentment Models and Payment Options. Part two covers the business-to-business payment options that can be incorporated into EIPP. The purpose of the document is to provide an objective, educational tool about Internet-based EIPP in business-to-business transactions. It is intended to help businesses understand the options currently available in the market. The authors believe that broader understanding will help drive adoption of EIPP.

Commercial Law League of America
For those seeking information about commercial law professionals, the CLLA now makes it easy to identify those who provide competent, quality collections and insolvency service. All members of the CLLA subscribe to either the Code of Professional Responsibility or to the Code of Ethics and the Declaration of Fair Practices.

The Commercial Collection Agency Association
If you want to ensure that your collection agency is certified, visit this site. With over 120 member agencies, the CCAA represents the most prestigious commercial collection agencies in the United States. The CCAA works to elevate the standards of the commercial collections industry by providing educational, legislative, promotional and administrative services to its members.

Commercial Law Industry Terminology
Many legal terms used in the art and science of credit and collection.

Mechanics Lien Laws State by State Database of Lien Laws
Mechanic's Lien Laws have been enacted to protect those furnishing labor, material, and/or equipment for the improvement of real property. Lien Laws have been enacted in all 50 states and differ widely.

United States Code
The Code is a consolidation and codification by subject matter of the general and permanent laws of the United States. This version is generated from the most recent version made available by the US House of Representatives. Of particular interest to creditors is Title 11of the US Code or the rules of Bankruptcy...see next...

Title 11of the US Code the Rules of Bankruptcy
Also see: Bankruptcy Basics from the US Courts

Uniform Commercial Code
The underlying purposes and policies of this Act are to simplify, clarify and modernize the law governing commercial transactions; to permit the continued expansion of commercial practices through custom, usage and agreement of the parties and to make uniform the law among the various jurisdictions.

Fair Credit Reporting
The Fair Credit Reporting Act (FCRA), enforced by the Federal Trade Commission, is designed to promote accuracy and ensure the privacy of the information used in consumer reports. Here are some questions consumers commonly ask about consumer reports and Credit Reporting Agencies.

Equal Credit Opportunity
This information advises you of ways to ensure non-discriminatory practices in the process of credit extension.

Proposed Rule changes to the ECO

Fair Debt Collection
This information answers commonly asked questions about your rights under the Fair Debt Collection Practices Act.

Protecting Confidential Information
Confidentiality is a legal principle that maintains secrecy between parties. This is particularly important when you wish to ensure that your information, knowledge or research results which you may pass to another party are held in confidence and not used improperly. This document helps explain confidentiality and your responsibilities and what you can do to protect yourself.

Glossary of Electronic Data Interchange Terms

Fundamental Facts About U.S. Money
A primer of interesting background information about money.

Automated Clearing Houses (ACH)
The Automated Clearing House (ACH) payments system was designed to allow corporations and consumers to reduce or eliminate the use of paper checks to make routine payments.

Summary of Collection Laws
State listing of interest rates, statute of limitations, bad check laws, general garnishment exemptions, and collection agency bond and license requirements.

A Plain English Guide to Antitrust Laws
The FTC has prepared this information to help you understand the antitrust laws -- how they can benefit consumers, and how they can affect you in your business operations.

Points of Interest - Understanding Interest
To understand the economic forces that drive (and sometimes are driven by) interest rates, we first need to define interest rates. An interest rate is a price, and like any other price, it relates to a transaction or the transfer of a good or service between a buyer and a seller.

About Bankruptcy & the U.S. Trustee Program
The United States Trustee Program is a component of the Department of Justice that seeks to promote the efficiency and protect the integrity of the Federal bankruptcy system.