Credit Policy
- This policy provides alternative payments requirement for accommodating sales to dealer/customer. All department with in progressive material responsible for the sale, marketing, contract approval, order acceptance, scheduling and transport of product must adhere to the policy and guidelines.
- It is progressive material policy that credit will be extended to all customers who demonstrate both the ability to pay and history of timely payments of debts. Credit limits will be determined by comparing the following averages, credit lines needs.
- The credit department shall evaluate all new customers to determine what payment term and methods will be required and what level of credit will be established.
- The credit department will also periodically review and reevaluate payment terms and credit lines of existing customers to support new customers requirement and to manage risk as financial and business condition changes.
Few important points below for credit:
- Every party/wholesaler/distributer can get 10% credit of last four billing statement. It will be increased with business track record of party.
- Party have to clear its previous dues to take goods and material on credit.
- Party’s credit limit will be decided by last 6 month bank statement.
- Party have to give his company/firm GST NO, PAN CARD NO, MSME NO, ADHAAR NO.
- Party have to give two year GSTR.
- Payment should be clear within 15 to 21 days.
- Any party’s billing can be stopped if it don’t clear its bill before 21 days. party can open its credit limit after paying previous all bills.
- Payment can be done by Online :RTGS/ NEFT / Debit / Cards / UPI.
