" or if we sent them defective product (and if discovered outside of the payment terms would result in a credit against a future invoice)."
If I may. In your example, if your company filed bankruptcy......resulting in the absence of a "future invoice"..... Kroger would file a claim in your proceedings, just as was done here.
big lug, I posted the link in my post. Kroger's is the one who filed the $37.5K number. I would have no way of knowing what kind of an arangement they made. All I know is what was posted. Sorry.