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This excerpt taken from the GRVY 20-F filed Jun 30, 2009. Allowance
for doubtful accounts
The Company maintains allowances for doubtful accounts
receivable based upon the following information: an aging
analysis of its accounts receivable balances, historical bad
debt rates, repayment patterns and creditworthiness of its
customers, and industry trend analysis.
The payment processing service providers are responsible for
remitting to the Company the full subscription revenues
generated in Korea after deducting their fixed service fees and
charges, which range from approximately 8% to 15% and risk of
loss or delinquencies are borne by such payment processing
service providers.
This excerpt taken from the GRVY 20-F filed Jun 27, 2008. Allowance
for doubtful accounts
The Company maintains allowances for doubtful accounts
receivable based upon the following information: an aging
analysis of its accounts receivable balances, historical bad
debt rates, repayment patterns and creditworthiness of its
customers, and industry trend analysis.
The payment gateway providers are responsible for remitting to
the Company the full subscription revenues generated in Korea
after deducting their fixed service fees and charges, which
range from approximately 8% to 15% and risk of loss or
delinquencies are borne by such payment gateway providers.
This excerpt taken from the GRVY 20-F filed Jun 29, 2007. Allowance
for doubtful accounts
The Company maintains allowances for doubtful accounts
receivable based upon the following information: an aging
analysis of its accounts receivable balances, historical bad
debt rates, repayment patterns and creditworthiness of its
customers, and industry trend analysis.
The payment gateway providers are responsible for remitting to
the Company the full subscription revenues generated in Korea
after deducting their fixed service fees and charges, which
range from approximately 8% to 15% and risk of loss or
delinquencies are borne by such payment gateway providers.
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