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Thomas Woll
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5. Be doubly stringent on your credit limits. Who would have thought AIG would go under? Merrill Lynch? Not many. Well, the same can happen to distributors, bookstores and large wholesalers. Don’t be intimidated by the big guys. Set limits for them as well and adhere to those limits. Put any account over 120 days on a firm hold until they pay. Don’t assume stability; plan for instability.
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Thomas Woll
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