Inquiry for New Account

Comment: When a letter is received from a new customer requesting credit, or a credit request is received with an order, or if just an order is received, your letter to the customer requesting credit information should welcome the customer and thank them for their inquiry and/or order. It should also explain your usually credit policy procedure, and it may ask for credit references or for a financial statement. Stimulate a prompt response by showing the custom that is to his interest to furnish the necessary information at once.

Example 1

We welcome your inquiry to open an account with our company.

As is customary, however, we will need some financial information.

Please send us, as soon as possible, a copy of your most recent certified financial statement or operating report, any trade references, and the name of your banker or banking facilities. Any other meaningful and pertinent data will also be appreciated. All this information will, of course, be kept in confidence.

We hope to be working with you often. Your prompt cooperation will enable us to serve you in a mutually beneficial relationship.

May we please hear from you soon?

Example 1A

Thank you for the opportunity to serve you. Your order has received our prompt attention and we are eager to expedite its shipment as soon as possible. New customers like you are responsible for our growth -- and we never forget that fact.

Our policy with first time customers is to request the usual certified bank statements, references, and the name of your bank. This information will, of course, be kept in confidence. Our regular terms of 1% 10 days, Net 30, will begin immediately for you upon receipt and acceptance of the above data.

We hope this is the start of a long and mutually profitable relationship. Be assured of our utmost cooperation whenever we can be of service.

Credit Inquiry Letter: New Customer

Comment: Good credit arrangements, with clear understanding on both sides, should be made as soon as possible with a first order from a new customer. New accounts can sometimes pose a credit problem. For example, the salesperson does not send sufficient information with the first order, or the customer neglects to do so. The need for finesse is great, since the new customer may turn out to be a valued customer. Investigating new accounts has been simplified during recent years. However, it is often necessary for the credit manager to personally carry through credit checking to add information to that received from usual sources. And it must be done tactfully!

Example 2

We welcome the opportunity to serve you as a new customer and appreciate your recent order.

To give you the best possible service, we have started a customary credit file. However, the information so far received through the usual sources is not adequate or up to date. Since you no doubt will want to receive shipments on open account, we are certain that you will be happy to assist us in establishing your credit file on that basis.

We are enclosing a simple statement form; please complete and return it in the addressed envelope. This will assure us of receiving your reply immediately, enable us to complete our file, and process your order for immediate shipment.

Thank you for your interest in our company; we assure you that any information you provide will be held in confidence.

Example 2A

Our salesperson, (name of salesperson) has just given us the good news -- that you are interested in opening an account with us, and that you have given (him/her) your first order for (product/services).

We want to open your account immediately -- and ship your order, too -- but we have not been able to obtain sufficient credit information through our regular sources. Anyway, we would much rather this information cam direct from you, so please fill in the enclosed form and return to us immediately.

Your order will be shipped just as soon as your information gives us clearance. We hope you will both enjoy a long and pleasant business relationship.

Requesting Financial Statement and/or Additional Information

Comment: When a prospective customer is questionable or unknown, you must speak plainly, but in a courteous manner. In the case of a repeat customer who requests a noticeable increase in his order for merchandise, it is well to ask for a current financial statement to justify shipment. In the press of business, requests for credit information sometimes are blunt or brusque. Yet, as the following letters show, it always possible to say what you mean AND in a friendly tone-showing your customer you are earnestly trying to help.

Example 3

Your new order as usual, was immediately shipped, and we thank you for it.

The growth of your business pleases us greatly and we also want you to know how much we appreciate your continued interest in our (products/services_.

Due to the increased volume of your recent order, we ask that you send to us a current balance sheet or operating statement. The latest one we have is dated (date). This is a routine credit procedure for our company when noticeable increased orders are placed.

In the past, you have been most cooperative in providing us with necessary financial information so that we have been able to promptly meet your requirements. Therefore, we have no hesitation in asking you for this data.

We want to emphasize that your trust is us will be fully protected - and to our mutual advantage.

Example 3A

We very much appreciate the order you just sent us, and we are eager to add your name to our list of customers who receive open credit terms.

To do this we will need a complete (certified) financial statement. Since we have not been given complete credit information, we will appreciate your sending it direct to us. If you prefer, use the enclosed form. Any information you send us will, of course, be held in confidence.

Your prompt cooperation will enable us to get your shipment sent as quickly as possible.

Need an answer to a credit or collection related question? Please feel free to contact us.