Hubbell Policies

ACCOUNTING AND DISCLOSURE

None

REPORTING

See above reporting requirements.

DEFINITIONS

Account Receivable shall mean the amount a customer owes to the Company for sales of Company products.

Open Account shall mean sales to customers on an unsecured basis where the Company is looking to the credit of the customer or its parent company for collection of its account receivable.

Credit Limit shall mean the maximum dollar amount of credit exposure allowed for sales on open account for each applicable customer.

Credit Hold shall mean the holding of shipments to a customer due to a failure by the customer to make payments on a timely basis or due to a significant deterioration in the financial condition of the customer.

Terms and Conditions shall mean the period established for payment by the customer of amounts owed to the company for shipments made including discounts for early payment and any other relevant conditions of sale.

Bad Debts shall mean the write off for accounting purposes of all or a portion of an account receivable from a customer due to the inability of the customer to pay.

RELATED DOCUMENTS (Policies, Guidelines, Standards)

None

VERSION

Version

Approval

Effective 2014.08.01 2019.08.15

Changes

1 2

J. Capozzoli, A. Hsieh, S. Mais J. Capozzoli, K. Lane, S. Mais

Original Issue

Conformed to new template

51