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In the five-minute legal master series, board-certified creditors rights attorney Nicholas D Kralik discusses credit agreements. He emphasizes the importance of preparing for the possibility of a new customer becoming a non-compliant debtor from the outset of the business relationship. It is crucial to anticipate and establish rights and remedies as a credit grantor to ensure effective collection in case of non-payment. Prepare for collection from day one to mitigate risks associated with extending credit to customers.
