BCJ March 2014

Business Credit JournalMarch 2014

7931 NE Halsey, Suite 103 Portland, Oregon 97213 Tel 503.257.0802 Fax 503.257.0247 www.nacmoregon.org

In This Issue

The Downside of Construction Liens .................................... 1

International Corner ............... 2

Chair’s Message ..................... 3

President’s Message ............... 3

Legal Corner ......................... 6

Education ............................. 7

NOF Scholarships ................... 8

NACM National News .............. 12

Credit Learning Center ........... 13

Get the Most Out of This Year’s Credit Congress with the NACM 2014 Mobile App ................... 14

Contacts ................................ 15

Most, if not all, Oregon construction contractors and material suppliers are generally familiar with construction liens and the lien process. However, over the past 17 years, my experience has been that some construction industry professionals do not fully understand the "foreclosure piece" of the lien process and, as a result, rely too heavily on the payment protection they perceive a lien provides.

In short, these folks erroneously believe that, if their lien is properly perfected and recorded, they will, without much further effort, automatically receive payment for their work on, or materials provided to, a project. Unfortunately, especially in the past five to six years, that is usually not the case.

It is true that the recording of a construction lien may sometimes prompt payment from a "stubborn" customer, particularly during "the good times." However, while a construction lien can be an effective collection tool, like most things in life it is not without its downside.

The first potential issue is that, if the lien claim is disputed, the lien must ultimately be foreclosed. This means filing a lawsuit in the circuit court in which the project is located to obtain an order from the court foreclosing the lien and ordering the sheriff to sell the encumbered property to pay the lien claim. The foreclosure lawsuit essentially boils down to a breach of contract claim secured by the property.

As you might suspect, this legal process can be both expensive and time-consuming. Most civil cases in Oregon take 10 months to a year to get to trial. I would be very surprised if a lien foreclosure action could be tried through judgment for less than $50,000 in attorney

fees and court costs.

The Oregon lien statutes provide that a prevailing lien claimant may recover its attorney fees (if all of the proper steps are followed); however, because of the significant amount of work involved in prosecuting a lien claim, most attorneys do not take such cases on a contingent fee basis. As a result, the claimant must often pay out tens of thousands of dollars "up front" to foreclose its lien before it has any hope of receiving payment from the lien. This often makes it economically infeasible to foreclose a "small" lien (under $50,000),

especially in "one off" situations.

A second, and perhaps less understood, issue is that not all construction liens receive "super priority." In today's real estate market, "super priority" (i.e., having priority over a lender's existing deed of trust) is critical to a lien claim's success.

While some liens recorded against new construction projects have "super priority" potential, generally speaking, a lien for labor and/or materials provided on a repair or remodel project does not. A lien on a repair or remodel project is subordinate to (i.e.,

does not have priority over) a previously recorded encumbrance (i.e., a deed of trust, mortgage, or lien) against the property (except for an encumbrance specifically related to financing the subject construction).

This means that, absent construction financing, regardless of what it does, a lien filed by a material supplier who provides shingles for reroofing an existing house will not have priority over the existing encumbrances recorded against the property.

The Downside of Construction Liensby William G. Fig, Attorney, Sussman Shank, LLP

continued on page 9

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Alice Knight is Vice President of Finance & Administration for Paper Products Marketing, Inc. Ms. Knight has more than 48 year's of experience in International Finance and is an active member of ICTF and NACM. She has served as Co-chair, Panel Member, and Presenter at Annual Global Conferences, and as President of ICTF Forest Products Group.

International Corner

In the last issue I shared some of the highlights from the first day of ICTF’s Annual Global Trade Symposium. Even though several months have passed much of what was shared on the second day is still very relevant.

Tuesday started with a country risk review by Dr. Hans Belcsak, President, S.J. Rundt & Associates. Dr. Belcsak detailed how the 'War on Terror' has spread, metastasized globally. The West, where since 2008 the major countries have cut defense spending by 10-15%, is ill prepared for this War. The potential array of threats include: The Middle East, Iran, Russia (threats to Georgia and Ukraine), and China (freedom of navigation). Last year, for the first time, Asian countries spent more on defense than European countries.

There are currently several major Free Trade Agreement Talks in progress.• Latin America – Mexico, Columbia,

Chile, and Peru. The U.S. has agreements with all four,

• Transatlantic Partnership – major cultural problems

• Trans-Pacific Trade Agreement — China is currently taking the lead

Dr. Belcsak discussed the current status of the BRICS.• Brazil – Growth down to a crawl• Russia – Six quarter slowdown.• India – Less than 5% growth in

2013• China – Worries throughout the

country• South Africa – Major problems

with labor unrest

The World in general is very unsettled and major problems could develop very suddenly – think Ukraine!

Gus Faucher, Sr. Economist, The PNC Financial Services Group, discussed

“Growth to Strengthen in 2014 as Fiscal Drag Fades.” Although job growth is still slow, fiscal policy is a drag, export growth and productivity have slowed, but there are still many positives. Profits are high and labor costs are still low, the auto industry is continuing to hire, consumers have cut back on debt, the home building industry is growing, and home prices are rising. The major factor for long term continued economic growth is the historic energy boom in the United States. This should spur business development and growth as well as direct inward investment.

The last session featured the ICTF Global Management Roundtable moderated by Paul Angeli, VP, One Source Risk Management and Funding, Inc. Panelists included Elaine Dykehouse, Corporate Credit Manager, Blue Diamond Growers; Carlos Marchado, Director of Credit and Collections, LATAM Brightstar Corporation; and Fernando Mesia, Sr. VP Market Manager, Mercantil Commercebank. Questions submitted in advance by the attendees included:

• Argentina – Overall experience and payment problems

• Mexico – New security regulation RUG

• Venezuela – Payment challenges• China – Trouble getting credit

information after the government crackdown on information sharing

• Discounting L/C’s and Bankers Acceptance Drafts

• India – Collection steps• Credit reports• Malaysia – Obtaining credit

information• Philippines – Requests for tax

information

• Egypt – Political effect on economy, banking, and infrastructure

• Saudi Arabia – General business atmosphere

• Ukraine – Anyone successful in obtaining EXIM coverage?

General questions:1. Has your company been a victim of

cyber fraud?2. Does your company have separate

managers for export and domestic?3. What have you experienced with

credit insurance for banks?The Roundtable is a great way to get real-world practical experience from your hands on peers.

by Alice Knight, RGCP

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Message from the PresidentWe are continuing our support of the national designation program by offering two qualifying classes this year. The Credit Law for Trade Creditors class will begin next month, and we will hold a second class in the Fall. More information about this Credit Law class is included in this issue.

We have had excellent experience with CBA/CBF/CCE study groups. Over the last two decades, our pass rate is 100% for those who have participated in such a study group. We have ten individuals setting for exams this month, six for the CBA and four for the CBF. We wish them the best in their efforts!

You will find an updated 2014 Education and Activities calendar in this edition. Please note the following:• The Excel series started earlier this month and will run for

several weeks.• The International Business series begins the third week

in March and will include eight sessions over the next 8 months.

• The Credit Law class, as noted above.• The Basic Accounting class, which will be held over ten

weeks, starts in September

We also will hold several Meet & Greets, including one in Salem and a second in Eugene; the Annual Meeting in April; and, a Membership Breakfast in October. I hope you will plan to join us for all of these.

On another front, the NACM Trade Credit Report continues to grow in popularity. Your membership includes 25 of these reports. If you are not familiar with the product, I encourage you to contact your Account Executive or Customer Service. These staff members will gladly provide information and training. We also will soon add access to public record information. Watch for information about this product and its availability.

I also suggest you consider the webinars/teleseminars available through NACM National. Your membership includes two of these sessions. I encourage you to visit the NACM site (www.nacm.org) and see what may be helpful to you or other staff.

We are very appreciative of your support for NACM membership, products, and services. Best wishes to you and your company for an enjoyable and prosperous 2014!

Rod Wheeland, CCE, CAE Direct: 971.230.1158 [email protected]

Message from the ChairmanThe ever-changing weather over the last few weeks has certainly reminded us all that life in the Northwest requires a certain amount of flexibility; so does the field of credit. We need to be flexible not only to the needs of our company but also to the needs of our customers. We need to be communicators, analysts, accountants, politicians, educators, and students. It is a full plate! One of those areas where this is particularly true is the field of international credit. It is credit on steroids.

International Day is May 9. If your company is selling internationally, this is a must-attend seminar. The committee, Raeann Binau, ICCE, RGCP; Scott Smithhisler; Linda Bishop, CCE, ICCP; and Alice Knight, RGCP, have put together a first-rate group of speakers. Please save the date and plan to attend.

I was privileged to be able to attend the recent CFDD Portland Chapter meeting and listen to Alice Knight talk about some of the ins and outs of international credit. It was a fascinating talk presented by a wonderful teacher.

CFDD Portland meets on the second Thursday of every month. There is a period of social networking, followed by dinner, and a speaker. It is a great way to meet some of those continuing education requirements for those of you with certification and a great way to get some education points for those of you who are working towards certification.

One of the best parts of CFDD Portland is that you get to meet and network with other credit professionals. There have been several occasions over the years where I have been asked a question that is slightly out of my area of expertise and a call to a fellow member helps get that question answered. If you have not considered membership to CFDD previously, I encourage you to do so. I have been a member for more than 10 years and always enjoy attending meetings and learning something new each time I attend.

Two of my friends from that group, Marilyn Rea, CCE, and Charlene Gothard, CBA, have been spending the last several weeks hosting a CBA study group. They meet every Monday night with six to seven NACM members - questions and topics prepared. It is a big investment of time and energy. Charlene and Marilyn, as usual, just do this. They discovered this need, they organized, they prepared, and my guess is that they will have a 100% success rate.

If you do not know Marilyn and Charlene, you should try and meet them. They both give a lot of their time, talent, and energy for both CFDD and NACM Oregon. If there is a need, they fill it. If there is a committee needing help, they are front and center. It has been my pleasure to know and work with both of them. They are truly part of what makes NACM Oregon special. Thank you Charlene and Marilyn for all that you do.

There are so many members like Marilyn, Charlene, and Alice. I can’t stress enough how much their membership to NACM Oregon benefits us all.

I hope to see you all at the upcoming Annual Meeting April 24. Please plan to attend. We are trying a breakfast format this year and would be interested in your feedback.

Thank you, Marsha Johnson, CCE TEC Equipment, Inc. [email protected]

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Meet & Greet - Group Attendance ContestThe Paper Industry Credit Group won the Meet & Greet Industry Group Attendance contest with a 28% attendance rate. Sporting Goods came in second place with 21% attendance. The Paper Group received a gift for their attendance.

Invitation to Participate in the CRF Free Compensation StudyThe Credit Research Foundation used to collect salary data and print a biannual publication called The CRF Credit & A/R Compensation Study. This publication listed salary levels taking into account things like title, level of experience, education, industry, responsibility levels, geography, etc. This was the most popular of the CRF publications. Recently, CRF chose to go in another direction and the survey and compensation results were put online. As a consequence, survey results are now updated virtually every time new salary information is submitted. Access to the salary data is made available to CRF member’s year around.

CRF is allowing non-CRF members wishing to submit salary information, unlimited access to the compensation study results for 30 days from the day they take and submit a simple 5-minute survey.

We invite you to participate in this survey so you may gain the benefit of the results free of charge.

© New York Collection, Robert Mankarr. All Rights Reserved.

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http://www.crfonline.org/surveys/surveys.asp



Fourth Quarter 2013 NSDTR (DSO) and Annual 2013 Bad Debt Reports.We are excited to report that the level of participation was excellent for the Fourth Quarter 2013 NSDTR Report and a record number of participants contributed to the Annual Bad-Debt Report.

What was interesting to note is how a change in the mix of participants (a forty percent increase in responses in the Food and Kindred Products industry groups) impacts the overall outputs. This segment (and its standard terms of sale) is likely responsible for the changes in the DSO and CEI metrics. It is critical when reviewing the outputs of the attached reports that you view them from both a macro (the overall performance of the entire contributing population) and a micro (your specific industry group) perspective.

National Summary of Domestic Trade Receivables Results 4th Quarter 2013DSO slightly decreased from the prior quarter to 38.00 from 39.78. A year ago the measure was 39.94. Best Possible DSO decreased to 30.00, as compared to 31.00 last quarter and 32.10 a year ago. Average Days Delinquency decreased to 4.50 from 4.60, as compared to 4.30 a year ago. The percent reported over 90 days past due decreased to 0.25 as compared to last quarter at 0.40, as compared to 0.42 a year ago.

Medians for 28 different industries are included in this summary. If any SIC code has less than three responses, it will not appear in the report. So to get more participation in your industry, please mention the survey to your colleagues, and pass along the link for them to participate.

Please contact Customer Service or your Account Executive for a copy.

Now that you’ve done the NSDTR, if you really want to see how you’re doing, you’ll want to participate in CRF’s comprehensive Benchmarking survey. You can do that at: http://www.crfonline.org/surveys/benchmarking/benchmarking.asp.

To those of you that provided data we thank you again for your participation.

National Summary of Domestic Trade Receivables—2013 Annual Bad-Debt Report

We received the National Summary of Domestic Trade Receivables Annual Bad Debt Report for 2013.

Based on the results of this report, the Allowance for Uncollectables during 2013 was 0.50% of receivables. This is a decrease of 0.20% over 2012. Bad Debt write-offs during 2013 totaled $13.90 per $100,000 of sales. This is an decrease of $10.55 over 2012.

We thank our members and all of you who participated in the survey.

Please contact Customer Service or your Account Executive for a copy.

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http://www.crfonline.org/surveys/benchmarking/benchmarking.asp





Legal CornerBradley Blakeley, Esq. Blakeley & Blakeley LLP

Third Circuit: Blakeley & Blakeley Wins Crucial Third Circuit Appeal for Vendors Asserting the "New Value" Defense to Preference Actions.

In a precedential decision impacting critical vendors and, arguably, Section 503(b)(9) claimants, the United States Court of Appeals for the Third Circuit upholds the Delaware district court's affirmation of the bankruptcy court's initial ruling in In re Friedman's Inc., 2011 Bankr. LEXIS 4500 (Bankr. D. Del. 2011). The opinion, filed December 24, 2013, states that "We hold that where 'an otherwise unavoidable transfer' is made after the filing of a bankruptcy petition, it does not affect the new value defense." In other words, even if a vendor receives payment of its pre-petition invoices after the petition date, the vendor is not precluded from later using those same invoices as part of a "subsequent new value" defense to a preference action. The filing of the bankruptcy petition "fixes" the preference analysis.

In its analysis, the Court of Appeals considers "contextual indicators" in the Bankruptcy Code, including:

• The fact that Section 547 is titled "Preferences," suggesting that it concerns those transactions made during the Preference Period (i.e. 90 days before the bankruptcy filing);

• The hypothetical liquidation test, which must be performed as of the petition date;

• The statute of limitations, which begins to run on the petition date;

• The improvement-in-position test, which includes the phrase "as of the date of the filing of the petition"; and

• The logical conclusion that if post-petition payments can affect the preference analysis, vendors must be entitled to assert new value defenses for post-petition extensions of new value, the latter of which has been rejected by numerous courts.

The Court of Appeals also analyzes the policies behind Section 547, including:

• Encouraging trade creditors to continue dealing with troubled businesses, such as critical vendors; and

• Equal distribution among similarly situated vendors, such as Section 503(b)(9) claimants.

Ultimately, the court holds that, contrary to the appellant's arguments, a vendor is not "double dipping" when it asserts

a subsequent new value defense for pre-petition invoices paid by post-petition transfers. The vendor still replenished the debtor's estate during the preference period, and therefore aided the debtor in avoiding bankruptcy.

The Court of Appeals also rejects the Appellant's argument that policy behind Section 547 requires all vendors must be treated equally, and instead states that "the Bankruptcy Code does not give equal treatment to the claims of all creditors, but rather carves out special treatment for creditors or claims of certain kinds." As examples, the Court of Appeals cites to critical vendors and Section 503(b)(9) claimants, both of which can be given special treatment under the Bankruptcy Code.

The vendor in Friedman's, represented by Blakeley & Blakeley, received payment of certain pre-petition invoices through a first-day motion by the debtor seeking approval to pay pre-petition wages. However, the decision should apply with equal force to all vendors (including Section 503(b)(9) claimants) who receive payment of pre-petition invoices after a bankruptcy case is filed and later attempt to use those same invoices as part of a new value defense to a preference action. The decision is binding in the Third Circuit courts (which includes Delaware, New Jersey, and Pennsylvania) and persuasive in all other circuit and district courts.

Rewritten with permission.

Bradley Blakeley, Esq., earned his bachelors degree from Loyola University, Los Angeles, California, and his law degree from Santa Barbara College of Law (J.D.). Practice areas he specializes in are: commercial law and bankruptcy litigation. He can be reached at [email protected].

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We hope to see you at one or more of the following meetings.

NACM Annual Meeting April 24, 2014 7:30 - 9:15 a.m. Crowne Plaza Portland-Lake Oswego14811 Kruse Oaks Blvd, Lake Oswego, OregonSpeaker: Chris Kuehl, Armada Intelligence and the NACM economist

Seminar Following: "Securing Your Right to Payment & Available Collections Options"9:30 - 11 a.m.Speaker: William Fig

Cost: Annual Meeting & Breakfast $35 (members only)Seminar - $75/members; $155/nonmembersRegister for both $95 (members only)

Membership Breakfast October 14, 2014 7:30 - 9 a.m. Location: TBA Speaker: John Mitchell

Watch your mail for more details!

Meet & Greet November 5, 2014 5 - 7:30 p.m. Location: TBA

International Meet & Greet May, 8, 2014 5 - 6:15 p.m. The Multnomah Grille Doubletree Lloyd Center1000 NE Multnomah St.Portland, Oregon

Please join us for hors d' oevres wine & beer. The Meet & Greet is free to the members. Free parking is available.

In-House Class Schedule

International Business Series March 13 - October 16, 2013 (Thursdays) 8 - 10 a.m. NACM Oregon Classroom 7931 NE Halsey, Suite 201, Portland, Oregon 97213 Instructors: Brenda Barnes; Dana Shannon; Jean Boudreau; Ken Carraro; Raeann Binau ICEE, RGCP; Scott Smithhisler

Cost: Members - $45 each; Nonmembers - $75 each

International Business Day May 9, 2014 8 - 4 p.m.Doubletree Hotel Portland1000 NE Multnomah, Portland, OregonSpeakers: Courtney Seelinger, Dr. Christopher Kuehl, Paul Beretz, Romelio Hernandez & more

Cost: Members - $225 each; $175 per additional registrant from the same company;Nonmembers - $325 each

Credit Law for Trade CreditorsApril 22 - June 24, 2014 1 - 4:30 p.m. NACM Oregon Classroom 7931 NE Halsey, Suite 201, Portland, Oregon 97213 Instructor: Rod Wheeland, CCE, CAE, President, NACM Oregon


Basic Accounting September 10 - November 21, 2014 (Wednesdays) 1 - 4:30 p.m. NACM Oregon Classroom 7931 NE Halsey, Suite 201, Portland, Oregon Instructor: TBA


Mark your calendars for these exciting events!

Registration

Visit www.nacmoregon.org/events to register online. If you have any questions regarding these classes, please call Shawna Kelly at 971.230.1202 or email [email protected].

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• NACM National Credit Congress June 8-11, 2014, Orlando, Florida Two (2), $500 scholarships

Deadline: April 30, 2014

• Western Regional Conference October 15-17, 2014, Las Vegas, Nevada One (1), $500 scholarship

Deadline: August 31, 2014

• CFDD National Conference September 18-19, 2014, DoubleTree Bloomington - Minneapolis South, Minneapolis (Bloomington), Minnesota Two (2), $500 scholarships

Deadline: August 31, 2014

• ProfessionalCertificationFees $2,000 for certifications fees. Application must include acknowledgement letter from NACM National. $2,000 for certification classes fees. Applicant must include letter of completion and grade from the respective instructor and cost of the class. No funds available for texts.

• NACM Oregon International Seminars $2,000 to support NACM Oregon International seminars. Request can be for the International Day Seminar, May 9, 2014; the complete International Credit Series or individual series.

Submit applications to:

Lourdes (Lou) A. Rice NOF Scholarship ChairPacific Metal Co. 10700 SW Manhasset Dr. Tualatin, Oregon 97062p: 503.454.1051f: 503.454.1065e: [email protected]

NACM-Oregon Foundation Scholarships

The NACM-Oregon Foundation (NOF) is an independent, public benefit, nonprofit organization that provides scholarship opportunities to credit professionals to assist them in the pursuit of education and training, to achieve professional designation, and to attend national and regional programs and conferences.

In the spirit of sharing the wealth of scholarships, the NOF is providing financial assistance to eligible applicants. These scholarships are only available to NACM Oregon members. Nonmembers are not eligible for these or any other scholarships offered by the NOF.

NOF has established the following eligibility requirements and cooperates with other organizations (NACM National, CFDD National, and the CFDD Portland and Salem/Albany Chapters) to avoid double awards.

The NOF is offering the following scholarships in 2014:

• One scholarship per person per year from any one category.

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The Downside of Construction Liens, continued from cover

The same is true for the roofing contractor that provides labor for the project. In such a situation, even if the lien claimant properly perfects, records and forecloses its lien, its interest/lien is subordinate to an existing encumbrance recorded against the property before the construction project began (usually a purchase money lender's deed of trust).

As a result, to obtain an order from the court compelling the sale of the property, the lien claimant must first satisfy the obligation owed to the existing lender. Otherwise, the claimant takes the property subject to (or still encumbered by) the lender's deed of trust.

In many instances, the amount owed to the lender is exponentially greater than the amount of the lien claim and there is very little equity (if any) left in the property after the obligation owed to the lender is satisfied. Therefore, many remodel/repair lien claimants are, understandably, not willing to pay off the amount owed to the lender and the recording of the lien and subsequent foreclosure lawsuit are for naught.

A construction lien is, indeed, an important arrow in the construction professional's quiver of account receivable collection remedies. However, the savvy construction professional, particularly in the repair and remodel industry, wisely does not rely solely on a construction lien to receive or guarantee payment.

Recording a lien may occasionally prompt payment; however, the decision whether to foreclose a lien – particularly regarding a remodel or repair project– should be considered carefully. If construction financing is not involved, such a lien claimant may want to seriously consider remedies other than foreclosure of the lien.

Reprinted with permission.

Originally published in the Daily Journal of Commerce August 2013 issue. William G. Fig is a partner in Sussman Shank LLP's business litigation and construction practice groups. He can be reached at 503.227.1111 or [email protected].

CRF News This issue rings in 2014 with Economic Predictions by three preeminent economists: Mark Zandi, Chris Kuehl and William Strauss.

Other article topics include:

• CRF Survey findings on the difficulty in finding qualified candidates for Credit and A/R positions • An explanation of Bitcoins • Bitcoins in the B2B environment • Improving performance with better information • Meet the new CRF President • The latest economic trend

To view in the convenient Flipbook format via a web browser CLICK HERE:

For those who cannot view flash via the web, you may download a pdf version of the CRF News by going to this link:http://www.crfonline.org/publications/news.pdf

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22001144 NNAACCMM CCrreeddiitt CCoonnggrreessssRReeggiissttrraattiioonn FFoorrmm $$115500 SScchhoollaarrsshhiipp

Return form and payment to: Address questions to: NACM Credit Congress NACM Meetings Department 8840 Columbia 100 Parkway 410‐740‐5560 Columbia, MD 21045‐2158 [email protected]

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Refund and Cancellation Policy‐ NACM understands that unfortunate circumstances may sometimes affect your ability to attend an event. Should a request for a refund be necessary, please submit your request to the NACM Meetings Department in writing. For written requests received on or before April 25, 2014, full registration fees will be refunded, less a $50 processing fee. Between April 26, 2014 and May 5, 2014, 50% of the registration fee will be refunded. Due to the financial obligations incurred by the NACM Credit Congress, NO REFUNDS OR CREDITS are possible for cancellations received after May 5, 2014; however, replacements may be made at any time. Facilities Usage Fee‐We urge you to make your reservation at our conference hotel in order for NACM to maximize its meeting space, room block and help keep negotiated room rates as low as possible. The guest room block and group rate negotiated with the hotel includes costs to provide us with the quantity of meeting space we require. If we do not occupy a sufficient amount of guest rooms during the conference, we will incur penalties and additional costs. Therefore, we urge all meeting participants to stay in the host hotel. Consequently, guests not staying at Rosen Shingle Creek during the conference will be charged a Facilities Usage Fee, a flat $250 fee, to offset penalties and fees. Please note: If your residential address is in Orlando, Florida you are exempt from the Facilities Usage Fee.

2014 NACM Credit Congress Registration Form $150 Scholarship- Page 2

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Optional Educational Sessions:

Business Credit Principles Certificate Course (Sat thru Wed) Select one $329 $

Financial Statement Analysis 2: Credit & Risk Assessment Certificate Course (Sat thru Wed)

Select one $329 $

CBA Exam Review Session (Sun, June 8) Select one $109 $

CBF Exam Review Session (Sun, June 8) Select one $109 $

CCE Exam Review (Sun, June 8 ‐ includes box lunch) Select one $139 $

Optional Luncheons:

FCIB Luncheon (Mon, June 9) Select one $69 $

International Utility Group Luncheon (Mon, June 9) Select one $55 $

CFDD Luncheon (Tues, June 10) Select one $69 $

Box Lunch (Wed, June 11) ‐ Pre‐order lunch to maximize your time in between sessions–have a quick bite while chatting with colleagues.

Select one $20

Optional Activities/Items:

Networking Happy Hour (Sat, June 7) Select one $95 $

NACM Scholarship Foundation Golf Outing (Sun, June 8) Select one $149 $

I am proud to support the NACM Scholarship Foundation. $10 $20 $25 $50 $100 Other

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Facilities Usage Fee ~ Applicable only if you are not staying at the Rosen Shingle Creek. $250 $

Total (required for processing): (NACM Tax ID# 52‐1972771) $

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NACM National News

2014 Credit Congress & exposition

Join us at the Rosen Shingle Creek Resort

June 8-11, 2014, Orlando, Florida,

for the year’s largest gathering of business credit

professionals in the country. For more information go to

http://creditcongress.nacm.org/. To catch the ealy bird rate click

here.

June 16-20, 2014

GSCFM International delves into complex global issues facing credit and financial management executives throughout the world.

Participants have the unique chance to network with students in the GSCFM program running concurrently with the GSCFMI.

Click here to learn more about GSCFMI.

June 16-26, 2014 & June 22-July 2, 2015

GSCFM is an intensive program providing a foundation in disciplines, such as financial analysis, valuation, business economics, business law, corporate strategy, ethics and treasury management.

Click here to learn more about GSCFM.

Survey DatesCredit Manager’s IndexThe CMI is created from a monthly survey of U.S. credit and collections professionals. The survey asks participants to rate whether factors in their monthly business cycle—such as sales, new credit applications, accounts placed for collections, dollar amount beyond terms—are higher than, lower than, or same as the previous month. The results reflect the entire cycle of commercial business transactions, providing an accurate, predictive benchmarking tool.

CMI reports are released to the media the last business day of each month.

All credit and collections professionals are invited to take the survey each month. NACM membership is not required.

To sign up to receive monthly email reminders to take the survey click here.

2014 CMi tiMeline survey opens survey Closes

March Mon, March 17 Fri, March 21

April Mon,April 21 Fri, April 25 (noon)

May Mon, May 19 Fri, May 23

June Mon, June 16 Fri, June 20

July Mon, July 21 Fri, July 25

August Mon, August 18 Fri, August 22

September Mon, September 22 Fri, September 26 (noon)

October Mon, October 20 Fri, October 26

November Mon, November 17 Fri, November 21 (noon)

December Mon, December 15 Fri, December 19

www.nacmoregon.org

http://creditcongress.nacm.org/

http://my.nacm.org/INFO/Core/Events/eventdetails.aspx?iKey=CC14&TemplateType=A

http://www.nacm.org/gscfm-international.html

http://www.nacm.org/graduate-school-gsfcm.html

http://web.nacm.org/apps/cmi/cmi_check.aspx



Credit Learning Center

Don’t forget to take advantage of your two, complimentary webinars which are included in your Full, Premium, or Corporate Membership Package.

To view the Event Calendar go to http://www.nacm.org/event-calendar.html.

NACM Event CalendarDescription coming soon for the following events

Webinar: To Surcharge or Not to Surcharge, That is the Question: The Credit Professional's Guide to Rolling Out a Surcharge Program Under the Recent Rule Changes March 12, 12 - 1 p.m. PST

Webinar: Innovation in Credit and Finance March 19, 12 - 1 p.m. PST

Teleconference: Lien Waiver Management—The Rewards of Managing the Process Effectively April 2, 12 - 1:30 p.m. PST

Webinar: Troubled Suppliers in Bankruptcy and Financial Distress April 14, 12 - 1 p.m. PST

Teleconference: The Credit Manager’s Guide in Supporting Proactive Due Diligence Prior to Unclaimed Property Reporting Deadlines April 16, 12 - 1 p.m. PST

Webinar: Alter Ego and Single Business Enterprise Theories: Understand Who You Are Really Dealing With and How to Find Assets and Secure Payment April 23, 12 - 1 p.m. PST

Webinar: Legal Roundtable: Answering Your Questions April 28, 12 - 1:30 p.m. PST

NACM Event, continued Teleconference: Emerging Trends for Small/Mid-Market Credit Departments: Credit May 5, 12 - 1 p.m. PST

Webinar: Liens and Bonds—Taking Advantage of Your Rights to Avoid Write-offs and Sell More May 7, 12 - 1 p.m. PST

Teleconference: Preference Defense Toolkit May 21, 12 - 1:30 p.m. PST

Webinar: Bankruptcy for Beginners (Day 1) July 14, 12 - 1:00 p.m PST

Webinar: Bankruptcy for Beginners (Day 2) July 16, 12 - 1:00 p.m PST

www.nacmoregon.org

http://www.nacm.org/event-calendar.html



NACM’s 118th Credit Congress and Exposition, scheduled for June 8-11 at the Rosen Shingle Creek Resort in Orlando, Florida, will look a lot different than previous Credit Congresses. Aside from notable programming changes that include more educational offerings and networking opportunities, in addition to exciting new keynote speakers and other presenters, attendees at this year’s conference will be the first to have access to the NACM 2014 app on their smartphones. This mobile application will allow every Credit Congress attendee to get the most out of this year’s event. Here’s how:

(Social) Networking: Not only will the NACM 2014 mobile app allow users to link to Credit Congress-specific Twitter, Facebook and LinkedIn pages, but it will also give attendees the ability to search or scroll through a list to locate fellow attendees and then contact them via messaging through the app’s messaging capabilities. Why wait to get back to the office to send a follow-up email to a newly-minted contact? The NACM 2014 app will allow you to make connections with Credit Congress contacts faster than ever before.

Scheduling: The NACM 2014 mobile app includes a listing and detailed overview of scheduled sessions and events and is organized by category or educational track. A “My Schedule” feature will also allow attendees to customize their own personal Credit Congress schedule by simply adding a session to their agenda, and a “This Minute” feature gives users the ability to instantly view a list of events currently in progress or commencing within the next two hours. Prioritizing your Credit Congress educational experience to better suit what will most benefit you and your company has never been easier.

In-SessionBenefits: Now attendees have the choice of printing session materials before arriving at the conference, bringing their laptop to view materials stored on a USB stick provided at registration or looking up the session materials on their phone. The NACM 2014 mobile phone app will give registered users the chance to scroll through a list of both general Credit Congress documents as well as session-specific documents. A “My Notes” section in the

Get the Most Out of This Year’s Credit Congress with the NACM 2014 Mobile App

app will let users take notes and then give them the opportunity to export those notes to their email so that they can be shared with others. This makes it easier to take the insights you get from an educational or Executive Exchange session and put them to work back at the office.

Expo Hall: The NACM 2014 mobile app takes the guesswork out of finding vendors. Users can view a list of exhibitors or perform a basic search for specific vendors, and an interactive Expo Hall map makes it easy for attendees to find exhibitor information and pinpoint their booth location on the Expo Hall floor.

The NACM 2014 app will be available for download in May! To learn more about all that this year’s Credit Congress has to offer today’s credit professional, or to register, visit creditcongress.nacm.org today!

www.nacmoregon.org

creditcongress.nacm.org



Board of Directors NACM Oregon

ChairmanMarsha Johnson, CCE TEC Equipment, Inc. [email protected]

Secretary - Treasurer Linda Bishop, CCE, ICCE Tektronix, Inc. [email protected]

CounselorJohn Hardy Emerson Hardwood Co. [email protected]

Directors Steve Amiel Tektronix, [email protected]

Raeann Binau, ICCE, RGCP Columbia Machine, Inc. [email protected]

Jacqueline Bloom, CBA Wright Business [email protected]

Will Campbell Standard Supply [email protected]

Tony Ceniga Industrial Finishes & [email protected]

Lori Jones, CCE [email protected]

Isaac MillerFood Services of [email protected]

Dave [email protected]

Scott Smithhisler US Bank Global Trade Service [email protected]

NACM National Director Rick Weisman, CCE Graybar Electric Co., Inc. [email protected]

Customer Service/ Credit Reporting971.230.1220 [email protected]

Data ContributionShannon Abnal, CGA 971.230.1166 [email protected]

Member Services Kathy Linscott, CGA 971.230.1164 [email protected]

Member Services Account Executives Clara Nemeth, [email protected] Kendall Sun 971.230.1178 [email protected]

National Account Executive Caroline Anderson, CGA 971.230.1168 [email protected]

EducationShawna Kelly [email protected]

Industry GroupsRichard Browning, CGA 971.230.1188 [email protected]

Kristen McBride, CGA 971.230.1176 [email protected]

Collection ServicesDennis [email protected]

Marc [email protected]

BillingMarmie Carpenter971.230.1146 [email protected]

Meeting Room RentalShawna [email protected]

Newsletter EditorAmanda Garrick971.230.1172 [email protected]

Building Suites Lisa Rogstad971.230.1160 [email protected]

Contacts

www.nacmoregon.org

mailto:mjohnson%40tectrucks.com?subject=

mailto:stevea%40edinw.com?subject=

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mailto:[email protected]



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mailto:services%40nacmoregon.org?subject=

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BCJ March 2014

Documents

Transcript of BCJ March 2014