By: Victor J. Roehm III, Sussman Shank LLP
With the passage of Washington Initiative 502 in 2012 and the subsequent passage of Measure 91 in Oregon in 2014, commercial production, processing, and the retail sale of cannabis have become a major industry in the Pacific Northwest. However, there is still a great deal of uncertainty for those who may knowingly or unknowingly deal with this industry. Below are some issues to be aware of with respect to this unique industry.
The Controlled Substances Act
As a general matter, cannabis is listed on Schedule I of the Federal Controlled Substances Act. It is unlikely that this will change in the short-term. This means that production, sale, and processing of cannabis are federally illegal even though Washington and Oregon permit these activities pursuant to a state licensing regime.… Read the rest
A HUGE thank you to everyone who organized, donated, sponsored, and attended this event. We raised $4420 in the silent auction and $720 ($1440 total) in the 50/50 raffle!
Below is a slideshow of this amazing event and if you would like any of the photos you can download from our Dropbox folder.
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Social media, cell phones, and touch screen portable tablets were once a fantasy. They couldn’t have been imagined in anyone’s wildest dreams 100 years ago, yet here they are staring us in the face 24/7/365. Technology and innovation has caught up with the 21st century and not just in our daily, personal lives. Businesses and financial institutions have started to test and implement certain technologies that do exactly what Twitter and Apple have done for consumers—improve convenience and efficiency, among other key factors. Blockchain is one of the products that is gaining steam and making its way from infancy in the lab to application in the field.
This distributed ledger technology (DLT) creates an innovative, digital footprint.… Read the rest
New challenges for trade finance continue to spring up in our volatile world. Paperwork that used to be relatively easy has become even more complicated due to regulations in the trade finance industry. As regulators take a magnifying glass to how money flows to prevent money laundering and terrorist financing, credit professionals need to ensure compliance through a wide range of new rules, as recently described in the webinar “Effects of Regulatory Compliance on Trade Finance,” hosted by FCIB and presented by Fred Dons, Head of CTF Flow, Netherlands; Deutsche Bank.
Trade finance was once about making sure your documents conformed under letters of credit and the only record of a transaction was made when money came in.… Read the rest
By: Michael Miller, editorial associate, NACM National
A credit policy has four critical elements. They are: establishing the credit standard; determining credit availability; setting credit terms; and, defining a collection policy. “The best collection process is one which is proactive and consistent, and which reflects the mission and goals of the credit department,” according to Principles of Business Credit.
The most important thing to remember when making collections on past-due accounts is to focus on consistency, said Ray Wendolowski, Esq., of Bernstein-Burkley in Pittsburgh. “You want to have systems in place and forms to rely on if problems do arise. You need to have a procedure to follow through on,” he added.
This is not an easy process; it is difficult to have customers send money especially if they are already having problems making payments.… Read the rest
When you work with multiple accounts, staying on top of each and every one can seem impossible. When risky accounts slip through the cracks, your business could be affected. But by closely monitoring your accounts and being alerted to changes, you can make faster credit decisions and protect your business.When you work with multiple accounts, staying on top of each and every one can seem impossible.
When risky accounts slip through the cracks, your business could be affected. But by closely monitoring your accounts and being alerted to changes, you can make faster credit decisions and protect your business.
D&B Credit can help you manage and monitor your account risk with ease. User-friendly, smart and simplified, D&B Credit makes accessing the industry-leading relationship data and financial scoring models from Dun & Bradstreet easier and more effective than ever.… Read the rest
The 2017 Education Calendar is now available through December! We have other education classes in the works. As soon as we have them finalized we will update this post. You can also find all available classes for signup here!
Not all classes are currently available for registration.
For questions or more information on events please contact Shawna Kelly.
To print calendar, right click – open image in new tab, Ctrl + P.
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