This Standard Credit Policy contains general provisions that apply to all Equipment and Services provided to you by Business Mechanix Limited. The Policy forms part of the Agreement between yourself and Business Mechanix.
1. All debtors are due to pay on 20th of the month following the invoice, unless our contract states otherwise.
2. If no payment was received on the 20th, a statement will be issued and posted to the customer the next working day.
3. If no payment has been received 3 days after sending the statement, a phone call will be made to the customer’s accounts department (This will be approx 24/25th of the month)
4. If no payment has been received 2 working days after the phone call was made, a letter will be drafted the customer has 5 working days to pay or they will be placed on stop-credit.
5. After the 5 working days, the directors will make the decision to place the customer on stop credit or not.
6. If the account is not settled by now, daily phone calls will be made until the money is received.
7. If by the 15th of the following month that it was due (e.g June invoice, due in July and now we’re up to August) the account is still not made, a meeting will be held as to whether to refer the debtor to a debt collection agency, place a statutory demand or other attempts to recover the debt.