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In this episode of the Five-Minute Legal Master Series, board-certified creditors' rights attorney Nicholas D. Kralik discusses credit agreements. He emphasizes the importance of anticipating potential issues when extending credit to new customers, highlighting that creditors often overlook the possibility of customers becoming debtors. Kralik advises that when a creditor lends money to a new customer, they must prepare for the risk of non-payment. He stresses the need to be proactive in establishing rights and remedies at the outset of the business relationship. Preparation for collection should begin from day one to safeguard the creditor's financial interests.