Blockchain and Emerging Technologies Can Change the World

Nov 14, 2017

Posted by & filed under Credit.

Social media, cell phones, and touch screen portable tablets were once a fantasy. They couldn’t have been imagined in anyone’s wildest dreams 100 years ago, yet here they are staring us in the face 24/7/365. Technology and innovation has caught up with the 21st century and not just in our daily, personal lives. Businesses and financial institutions have started to test and implement certain technologies that do exactly what Twitter and Apple have done for consumers—improve convenience and efficiency, among other key factors. Blockchain is one of the products that is gaining steam and making its way from infancy in the lab to application in the field.

This distributed ledger technology (DLT) creates an innovative, digital footprint.… Read the rest

Trade Finance Faces Challenges from Increased Regulation

Nov 14, 2017

Posted by & filed under Credit.

New challenges for trade finance continue to spring up in our volatile world. Paperwork that used to be relatively easy has become even more complicated due to regulations in the trade finance industry. As regulators take a magnifying glass to how money flows to prevent money laundering and terrorist financing, credit professionals need to ensure compliance through a wide range of new rules, as recently described in the webinar “Effects of Regulatory Compliance on Trade Finance,” hosted by FCIB and presented by Fred Dons, Head of CTF Flow, Netherlands; Deutsche Bank.

Trade finance was once about making sure your documents conformed under letters of credit and the only record of a transaction was made when money came in.… Read the rest

Taking the Right Steps in Collections

Nov 14, 2017

Posted by & filed under Collections.

By: Michael Miller, editorial associate, NACM National

A credit policy has four critical elements. They are: establishing the credit standard; determining credit availability; setting credit terms; and, defining a collection policy. “The best collection process is one which is proactive and consistent, and which reflects the mission and goals of the credit department,” according to Principles of Business Credit.

The most important thing to remember when making collections on past-due accounts is to focus on consistency, said Ray Wendolowski, Esq., of Bernstein-Burkley in Pittsburgh. “You want to have systems in place and forms to rely on if problems do arise. You need to have a procedure to follow through on,” he added.

This is not an easy process; it is difficult to have customers send money especially if they are already having problems making payments.… Read the rest

NACM Northwest – a Proud NACM Affiliate

Sep 26, 2017

Posted by & filed under Credit.

NACM Northwest and many other associations across the country recently signed new affiliation agreements with the National Association of Credit Management. This action was a milestone in a concerted and collaborative effort which began five years ago with the purpose of strengthening and unifying NACM.

In 2012, a focus group revealed that many NACM members and potential members were confused by the lack of consistency between NACM and its Affiliates and among the Affiliates. This began an Affiliate-driven process to better understand NACM programs and to more closely align the Affiliates with NACM, while still maintaining our independence and flexibility to meet the specific needs of the regions and industries we serve.

This multi-year process to build unity provided countless opportunities for input and has been a true collaboration between the Affiliates, NACM, and the NACM National Board of Directors.… Read the rest

President’s Message – Past Chairs & Giving Back

Sep 26, 2017

Posted by & filed under President's Message.

It is a true pleasure to slow down once a year over a meal and honor NACM’s Past Chairman. It’s a nostalgic gathering of dedicated members and retirees who chose to lead the organization through a term of service on our Board of Directors. The service as Chairman dated back 45 years for some attendees and careers in credit around the table began before I was even born. Oh, the stories that were told! I was humbled by the continued passion for the credit profession and was honored to be a part of the gatherings in both Portland and Spokane.

There are many ways to give back to your credit profession through NACM. I encourage anyone who has interest in serving on a committee or board to make contact with me (jwalsh@nacmcs.org).… Read the rest

2017 Golf Scramble

Sep 26, 2017

Posted by & filed under Credit.

A special thank you to all who participated, sponsored, and donated to the Golf Scramble this year. This event would be nothing without all of you. See video slideshow below of the fun event!

And the winners are….

 

1st Place Team Round of golf for each player at the Coeur D’Alene Resort Golf Course+ $50 Cash
Reece Ham Dupree Building Specialties
Shane Bullock Dupree Building Specialties
Jesse Lentz Dupree Building Specialties
Riley Ollera Dupree Building Specialties
2nd Place Team $50 cash for each player
Cliff Berdar Numerica Credit Union
Josh Melcher Numerica Credit Union
Curt Fuller Numerica Credit Union
Brad Stanley Numerica Credit Union
Longest Drive – Men $25 Visa Gift Card
Ryan Bernard
Longest Drive – Women $25 Visa Gift Card
Debbie Reynolds
Closest to Pin – Men $25 Visa Gift Card
Mike Durazo

 … Read the rest

Oregon Receivership Code

Sep 26, 2017

Posted by & filed under Legal.

By: Barry P. Caplan, Sussman Shank LLP

INTRODUCTION

Oregon has a new law dealing with receiverships administered by the Circuit Courts in Oregon. Previously, Oregon had only ORCP 80 Receivers, which was short and covered grounds for an appointment and some basics regarding the order, notice of the receivership, the form of notice, and when and how terminated. Lawyers familiar with foreclosure and business liquidation were able to work with the bare bones of ORCP 80. The rule’s functionality was limited, with little guidance for judges and/or parties to understand how it would work during the receivership. Delays and avoidable problems thwarted the attempt to facilitate liquidation or sale of assets to maximize recovery for creditors.  Older case law provided limited guidance.… Read the rest