From Longman Business Dictionarycredit controlˈcredit conˌtrol1[uncountable]COMMERCE actions by a business to make sure that its customers can pay and can pay on timeA £1.5 million charge was made for bad debts; credit control procedures have now been strengthened.2[uncountable]BANKING actions by a bank to make sure that it only lends to those who can repay their loans and that payments are made on timeStrong credit control and loan discipline are the best tools for reducing a bank’s credit risk. → control
