Pay & Deduct Policy

Stanley Black & Decker operates under a Pay & Deduct Policy and finished goods credit memos will no longer be mailed out.  The Pay & Deduct Policy is described below:

When taking any deductions, customers should deduct using debit memos included with their remittances.  Finished goods credit memos will no longer be mailed out.  This process ensures: a) customers receive immediate credit upon remitting thus improving cash flow vs. waiting for matching of debits/credits which may be lengthy, b) reduces duplicate deductions, and c) reduces unnecessary printing/handling of paper credit memos.  All of the above actions result in multiple benefits for all concerned.

In addition, the vast majority of our customers have for quite some time been issuing debit memos for items such as returns, shortages, and pricing discrepancies.  We require that all customers now follow this process. Any deduction should be listed separately on the remittances.  A debit memo/other documentation explaining rationale for the deduction should be attached as well.  We will research & process deductions and if appropriate, issue credit and internally offset against deductions reported.  In contrast, if deductions are found invalid or inappropriate after our research, we will charge the item(s) back.  Prompt payment is then expected.

Credit & Accounts Receivable Contacts

As part of the transition, the Credit Department for CDIY, North America is centralized in Towson, MD.  Receivable/Credit contacts may have changed and below is a short list of possible contacts to use should you have questions until you can be contacted individually by a member of our staff.

 

Credit Management:

Dan DeCarlo, Credit Manager  1-410-847-6989

Bob Prietz, Director of Credit  1-410-847-6538

Receivable/Credit Fax Number  1-410-847-6590

Thanks for your continued support as we transition to a consolidated operation and should you have any questions feel free to contact me or Dan.

Sincerely,

Robert C. Prietz

Director of Credit
Construction/DIY, NA

Stanley Black & Decker, Inc.
701 E. Joppa Road Towson, MD 21286

T (410) 847-6538  F 410-847-6590
Robert.Prietz@sbdinc.com
www.stanleyblackanddecker.com