Which of the Following Is a Guideline for Granting Claims

question 50

Multiple Choice

Which of the following is a guideline for granting claims and requests for adjustment when your company is at fault?

• A) Explain precisely how you have resolved, or plan to resolve, the situation.
• B) Specifically assign blame to someone in your organization by name.
• C) Start from the assumption that the information the customer provided is incorrect.
• D) Imply that the customer is at fault.

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Definitions:

Financial Covenants

Agreements between a borrower and lender setting specific financial ratios or milestones the borrower must maintain.

Minimum Financial Tests

Financial benchmarks or ratios a company must achieve or maintain to comply with certain agreements, often related to debt covenants.

Borrower Must

Obligations or conditions a borrower needs to fulfill as per the terms of the loan agreement.

Debt Covenants

Specific agreements entered into by a borrower and lender, included in the terms of a loan or bond issuance, which place restrictions on the borrower to protect the lender.