Summary: Creditors who extend credit and loans require reliable and cost-effective security devices to protect them against non-payment. The pagaré in Mexico is a convenient tool. Therefore, this article explains: 1) the rules that affect international promissory notes to be enforced in Mexico; 2) the laws that govern pagarés in Mexico; 3) the basic drafting of pagarés in Mexico; and 4) issues to consider before executing pagarés to be enforced in Mexico.

Introduction to pagarés, promissory notes, and secured credit in Mexico

There is great concern for companies and individuals every time they are about to extend credit. These can be direct loans or sale of goods on open account terms, also known as trade credit.… Read the rest

Written by: Brett Hanft, CBA

Many useful resources, tools, and services are available to you as a member of NACM. During my 30+ year career in the credit & finance profession, I firmly believe one of the greatest strengths within our organization is participating in an Industry Group.

The value of participating in an industry group builds rapport and strengthens your network of credit professionals within your own industry. While every industry group can curtail meetings to best serve the needs of the group members, you gain a tremendous amount of knowledge by including educational sessions, round table ‘hot topics’ discussions that are specifically relevant within your industry, and account clearances.

NACM CS has local, regional, and national groups.… Read the rest

Written by a long time and experienced NACM Member

Remember when you used to receive an incoming fax on a roll of glossy fax paper…that eventually faded so you couldn’t read the original fax transmission?  Or using a typewriter (first manual, then electric) to generate correspondence instead of creating a Word document on a computer??  How about handwriting phone messages and delivering them to the desk of the intended recipient before the inception of voice mail?

Advancements in modern technology continue to revolutionize processes in our day-to-day work environments that had, historically, been manual.  Those technological developments have helped to streamline workflow and communication, especially to those working in credit, accounting, and finance. 

In our inordinately busy lives, we forget the importance of having the luxuries of technology that help us become more efficient in our jobs. … Read the rest

Congratulations to our newest designation recipients from the latest exam. Are you interested in education and getting a designation? Check out this guide on the certification program. If you have any questions contact, Shawna Kelly.

CBA
Nolan Simmons, CBA, The Greenbrier Co
Nancy Wanner, CBA, CFM Equipment Distributors
Jennifer Aguilar, CBA, Deckers Outdoor Corporation

CBF
Kathy Millard, CBF, Modern Glass Company