Customer set up / Credit facilities application
What is anImperialCollege AR Customer?
A College customer is a Company (Ltd or non Ltd), Charity or Person requesting good/services to be provided to them by Imperial College London. All College customers have to be set up on the Accounts Receivable side of ICIS; if they are not, we cannot invoice them. If you are unsure if a company/individual exists, then please contact Accounts Receivable (See contacts).
What is a customer set up/credit facilities application form?
The form is to establish correct company/individual details directly from the customer in order to set up a customer/CID number on ICIS. In the past we have received incorrect data supplied internally that has resulted in outstanding debt due to the College.
Why do we ask for a form to be completed?
We can either invoice companies before goods/services are provided; or we can offer them credit (subject to satisfactory credit checks) and raise the invoice after the supply of goods and services.
Companies that require credit
Credit checks must be carried out on companies requiring credit before services or goods are provided; this is to ascertain whether we are able to offer them credit. When the company first contacts the department, the department must request them to complete a Customer Set Up/Credit Facilities Application form or provide alternative documentation (See FAQ). Once these have been supplied; the department must forward them to Accounts Receivable. The Customer Set up Form, however, should have section F completed by the originating department before sending to Accounts Receivable section.
A credit check will be carried out, and a verdict given - either Approved or Refused. If the credit check has been approved, the account will be set up and the department will be informed of the customer/CID number so that an invoice can be raised for this customer. If the credit check has been refused, it means that we will not be able to give credit to the company; and any fees will have to be paid in full prior to the delivery of goods/services. The Head of the Department can agree to underwrite this transaction using Departmental funds, after consultation with the Head of Accounting Operations. If any goods/services have already been provided, the department will be liable for any outstanding bad debt relating to this transaction.
Companies that wish to prepay
If a company requires an invoice before goods or services are delivered, they can provide a purchase order, a letterhead with billing/contact information or they need to complete sections A & B. By doing this they are providing correct company details but not supplying trade or bank reference information; therefore they do not need to sign the form. Once the form has been returned to the originating department and they in turn have completed section F, it can be forwarded to the Accounts Receivable.
A customer/CID number will then be set up for the company, and the department will be informed of the number for future reference when completing invoice requests.
Individuals will not be offered credit.
Links and explanations for customer set up forms
ICAR01:Customer set up for Companies.
ICAR02:Customer set up for Individuals.