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In this episode of the Five-Minute Legal Master Series, attorney Nicholas D. Kralik discusses credit agreements. He emphasizes the importance of preparing for potential non-compliance from customers at the onset of business relationships. When extending credit, creditors are essentially lending their company's money and should be proactive in anticipating their rights and remedies in case the new customer fails to pay. Kralik stresses the need to prepare for collection from day one, highlighting that while it's uncomfortable to consider customers becoming debtors, it is a necessary aspect of managing credit relationships effectively.