How is credit approval generally handled for well-established customers with a documented payment history?

Question

Quizplus · Accepted Answer

Well-established customers with a documented payment history are likely to have their credit approved routinely, as the credit manager would have a good understanding of the customer's creditworthiness. Therefore, specific authorization or a new credit application is not necessary, and a formal credit check may be excessive for each sale.

How Is Credit Approval Generally Handled for Well-Established Customers with a Documented