Coface Collections North America Inc., based in Kenner, La., has completed the process to become an International Association of Commercial Collectors Inc. (IACC) Certified Commercial Collection Agency, the association announced this week.
A collection agency must complete a rigorous application and audit process to become certified, according to the IACC. Certified agencies must meet program requirements for education and training of staff, carry a minimum of $50,000 in client protection bonds, submit specific business and financial records to an independent auditor to assure compliance with the program’s high standards for collection agency operations and follow the IACC Code of Ethics. Periodic audits are conducted for an agency to keep their certified status.
According to an IACC news release, "Members of IACC recover millions of dollars annually for their clients. They provide valuable assistance to credit departments in controlling mounting debts.
IACC Certified Commercial Collection Agencies are dedicated to professional business practices and quality assurance and are therefore highly qualified to provide credit grantors with the expert collection services needed in today’s competitive business world."
To learn more about IACC and the IACC Agency Certification program or to view the IACC membership directory and IACC’s Commercial Collection Guidelines for Credit Grantors, visit the IACC Web site at www.commercialcollector.com.