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Credit Application Form Template - Individuals - South Africa

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Form requesting financial information and credit history for personal credit evaluation. Download Preview.

  • Determines creditworthiness.
  • Establishes credit limits.
  • Provides documentation for collections.

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Credit Application Form Template - Individuals - South Africa

(Individuals)

Summary If you operate your business on a credit basis, ie. Your customers (being individuals, as opposed to business customers) pay you only after goods or services have been delivered, then a template credit application form can be a useful tool. By getting your customer to complete an application before doing business with them, it allows you to accumulate information on them, helping you to assess whether to grant the credit. A Credit Application Form helps you to conduct background and verification checks on the prospective debtor.

If you want to grant payment terms to customers who are legal entities, have a look at our Credit Application Form for Corporate Customers.

Why do I need a Credit Application Form? A Credit Application Form helps you to collect information about your client, including obtaining a consent to credit checks. With this information, you can conduct various background checks to determine whether the customer is one you want to do business with. The information is also useful if you need to take action against a customer who defaults on their payments.

What does the application template say? The template application for credit requires the applicant to answer questions and complete information pertaining to: Personal Details; Spouse’s Details; Employment Details; Banking Details; Trade References; Customer’s financials; Consents; Customer Signature; Documents required.

What does the template application form look like? The standard form can be printed onto three pages.

What do you need to do to use the template form?

  • Read the sample application form to ensure that it suits your requirements. Make changes as required.
  • Fill in your details as the Supplier where specified
  • Ask your applicant to complete the form before you consider selling goods or services on payment terms.

 Also viewed: Cession of Book Debts

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