1. FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc. 1 7100. General Accounting Procedures, 7136 Gaining Credit Approval from Vendors A. The Purpose of This Policy To efficiently conduct Company business, we need to gain credit approval from many vendors. This policy describes our procedures for facilitating the prompt approval of our credit worthiness. Continue ►

2. FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc. 2 7100. General Accounting Procedures, 7136 Gaining Credit Approval from Vendors B. Procedure for Gaining Credit The accounting administrator, the general manager and Hotel supervisors all have occasion to solicit credit approval from prospective vendors of goods and services. Regardless of who is seeking the approval, the initial procedure is the same: 1. Explain that Marin Management, Inc., a lodging management company with many hotels, operates this Hotel. Explain that rather than our completing their Credit Application form, we prefer sending them our credit information for their review. If they would then like additional information, we will provide it. 2. Transmit the Credit Information sheet to the vendor by facsimile or e-mail. Continue ►

3. FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc. 3 7100. General Accounting Procedures, 7136 Gaining Credit Approval from Vendors B. Procedure for Gaining Credit (cont.) 3. Check regularly with the vendor to determine if credit has been approved or if additional information is needed. 4. If the vendor requires its Credit Application form to be completed, the accounting administrator (general manager or office manager) completes the form. If he or she is unable to provide all information required by the vendor's form, he or she contacts the general manager for assistance. Only the general manager or a Marin Management, Inc. executive may sign a credit application. No Company employee or agent may sign a credit application that contains a personal guarantee. Continue ►

4. FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc. 4 7100. General Accounting Procedures, 7136 Gaining Credit Approval from Vendors C. Recordkeeping Keep the completed vendor's Credit Application form in the vendor's file. End

5. FINANCIAL MANAGEMENT GUIDE © Marin Management, Inc. 5 7100. General Accounting Procedures, 7136 Gaining Credit Approval from Vendors