FREQUENTLY ASKED QUESTIONS

Some of the most commonly asked question's we recieve from Visitors and new Members:

I have managed without FMCM since Adam was a boy. Why should I join now?
Anyone who has spent time working in the industry is aware that bad debt has plagued it over the years. While publicity surrounds the big companies who fail there follows a domino effect whereby smaller concerns who sold to the high profile failure can be pushed out of business which in turn puts strain on their suppliers and so on down the chain, making it very difficult to trade without being exposed to risk. FMCM's initial assessment of a buyer will provide an invaluable guide to realistic trading limits and terms and our ongoing monitoring of transactions and payments within the industry means that we are in a position to see any irregularity in patterns and so act as an 'early warning system for our members'.

Probably Credit Insurance is a good idea but could you insure my customers who are sole traders or operate a partnership?

Because we maintain a large database, we have up-to-date information on an extensive number of customers, no matter how their business is set up.

As a result of this, and because of our special relationship with our insurers, we can write limits on individuals and partnerships which perhaps could not be granted by anyone else.

Can you promise that any information I give you is confidential?
FMCM would not have lasted as long as we have if we could not guarantee strict confidentiality.

Is it possible to take out membership without Credit Insurance, and could I get you to do credit control for only some of my customers?
FMCM is run for your benefit and so you can tailor our services to meet your needs. We pride ourselves on our flexibility to provide you with an individual package suited to the requirements of your business.

How does the database work?
On a weekly or monthly basis members supply FMCM with their customer invoice information (date, customer name, terms, invoice number and total) which FMCM enter into the database. This allows us to recognise any irregularities in the buying and paying patterns of thousands of customers both in the UK and worldwide, and in addition to alerting members to potential problems, we can calculate average debtor days and compile trading histories, all without compromising total customer confidentiality.

Will FMCM carry out a "health check" on my existing customers?
We will be happy to do so as often as you wish.

If you investigate a potential customer for me will your verdict be easy to understand?
Our advice and recommendations are always given in a clear and straightforward way which will leave you in no doubt as to how to proceed.

How do you manage to get money in more quickly than I can myself?
When we deal with buyers we bring to bear the full strength of our membership which means that a buyer can be faced with being placed on "STOP" by numerous suppliers rather than just one. In this situation buyers find it preferable to settle accounts with our members as soon as possible.

I want to expand my business so I need to build an increased customer base. Is there a limit to the number of credit references I can apply for?
No, there is no limit.

Could you do my credit control for three weeks only while my clerkess is on holiday?
Yes, we will do everything we can to assist our members.

If I ask you to chase a customer on my behalf because I don't want to fall out with him, will you do it for just that one?
Yes, we are happy to do whatever we can to help you.

Can I arrange to pay for my Credit Insurance in monthly instalments?
Yes, this facility is offered at no extra charge.

It all sounds fine but does it work in the real world?
Read what our members say in the Testimonials section