Business Law & Credit Management Legislation

Module Description

Consumers and trade customers alike are nowadays more able and willing to stand up for their rights. They are more knowledgeable of their rights against suppliers when purchased goods turn out to be defective or faulty. Hence, business organisations cannot afford to make strategic decisions without considering the legal consequences of their actions. This also affects the credit department and, hence, the credit practitioner should continuously liaise with a litigation lawyer to seek proper legal counsel.

Legal counsel is critical both to draft the contract of credit sales, during the managing of Accounts Receivable and when collecting money owed from customers/debtors.

This module will equip students with sound knowledge of the basic commercial law; the Companies Act, especially understanding the roles and responsibilities of the involved parties; the Maltese Judicial System, particularly knowing how to use this system to recoup payments from customers; the various payment methods; the Bankruptcy Law which is critical when a customer goes bankrupt; and EU Directives relating to credit and collections which are transposed by legal notices into the Maltese law.

Furthermore, this module will expose students to real or simulated cases illustrating complex legal dilemmas in payment methods, contract disputes, and insolvency proceedings

Entry Requirements

Candidates who apply for this course will possess:

• A qualification at MQF Level 4 (one ‘A’ Level or equivalent in any subject/ a related (professional) qualification)
• a pass in English Language* and Mathematics at MQF Level 3 (‘O’ Level or equivalent).

In the case of students who do not possess all the formal required academic qualifications, then the Recognition of Prior Learning (RPL) process could be applied such that if evidence of equivalent learning and/or related experience (e.g., assistant accountant, credit controller, etc.) is found then the applicant could still be accepted on the course.

Evidence may include:

• A detailed CV outlining relevant work experience and responsibilities.
• Employer reference letters outlining job role, duration, and key competencies.
• Related documentation demonstrating relevant skills (e.g. work portfolio).
• Such RPL process may subject applicants to an interview held with a board of experts within the field, chosen specifically by IDEA College, so as to verify their practical knowledge, experiences, and prior learning.

*Students whose first language is not English and do not possess an ‘O’ level pass in English Language will be required to demonstrate English language capability at IELTS level 6.0 or equivalent.

Target Audience

This qualification targets:

• Individuals seeking to advance their academic and professional knowledge in Credit Management and Collections.
• Individuals wanting to pursue a wide range of career paths within this field.
• Individuals wanting to enhance their ability to interpret, assess and communicate credit management related information.

Career Paths

This programme equips the audience with the competences, knowledge, and skills listed in this application. The potential positions for which this programme aims to prepare could be and are not limited to:

• Credit manager
• Credit controller.
• Credit analyst.
• Collections specialist.
• Financial assistant.

How you’ll be assessed

The course comprises:

• Evening classes for part-time courses.
• Classes held throughout the day for full-time courses.
• Guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos.
• Self-study hours comprising research, reading and assignment work.

Assessment

Assessment is carried out via two mandatory components:

• Assessment 1
• Assessment 2

The programme includes different forms of assessment which allow for and promote students’ critical engagement. The formative and summative assessment tasks may include an in-class assignment and/or a home-based written assignment using diverse assessment tools which may take the form of online and in-class discussions, examinations, case studies, reports, proposals, essays, and presentations, etc., as applicable to the diverse modules.