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Authorizing Release of Credit Information Trade creditors sometimes request or require a "release" from their customer before they will respond to a credit inquiry from a fellow creditor. Below is a sample letter that the customer can be asked to complete and fax back to the new creditor on its company letterhead: Date To Whom It May Concern: We have recently applied for open account credit terms with Name of Creditor Company. In connection with this company's standard credit investigation process, we authorize you to release information to this company including:
We release your company from any potential liability resulting from providing this information. Please contact me if you have any questions or concerns. Thank you. Edited by Michael Dennis, author of "Credit and Collection Handbook" available at the NACM Bookstore. |
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