credit control
noun
ukus[U]ACCOUNTING,FINANCE(alsocredit management)
thesystemused by abusinessto makecertainthat it givescreditonly tocustomerswho areabletopay, and thatcustomerspayontime:
In mostcasesit isbettertoimproveyourcreditcontrolthan to give adiscounttoenticepayment.
[U]BANKING,FINANCE
aprocessused by abankto makecertainitlendsmoneyonly topeopleorbusinesseswho areabletopaybacktheirloans:
Mr Bond said thebankwasseekingtolearnthelessonsof last year'slossesbytighteningup oncreditcontrolprocedures.
[C,usually plural]ECONOMICS,GOVERNMENT
a set ofactionsused by agovernmenttoreducetheamountofmoneyavailableforborrowingorspending:
TheLabourPartypledgedthat, ifelected, it wouldintroducecreditcontrolsas analternativeto highinterestrates.