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Tips / Mail or Telephone Order Merchandise Rule
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Mail or Telephone Order Merchandise Rule |
| By: admin, November 25, 2004 |
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| Views: 345 |
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If your customers apply to you to establish an in-house new credit account
or increase an existing credit line to pay for the merchandise they order,
the Rule provides the following:
If you make no shipment representation when you solicit the order, you
are allowed 50 (instead of 30) days to ship the order. The extra 20 days
is to enable you to process the credit application. If you wish to use
this provision of the Rule, you must have a reasonable basis to believe
you can ship in 50 days.
If you do make a shipment representation when you solicit the order, you
must have a reasonable basis for being able to ship in that time, regardless
of whether the order is accompanied by an application for credit or extension
of a credit line. You are presumed to have factored in the time needed
to process the credit application or to have qualified your shipment representation
appropriately.
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