Paymentand terms for invoices
Reel Diving payment and credit policy, valid from January 1st, 2024
1.New clients
a. All new clients start on credit card payment. Payment is done on ordering in our B2B order system
b. After 3.000€ purchases, credit may be granted
2.Credit limit and customer responsibility
a. No client will have more than 10% of their annual projected turn over as credit (this may lead to large orders having to be pre-paid by credit card).
b. It is the client's responsibility to make sure that invoices are received. We all know that e-mails can get stuck in spam filters etc. If the client has not received the corresponding invoice for a shipment within three working days, the client must contact Reel Diving and ask for the invoice.
3.Reminders and failure to pay.
a. Reel Diving does not ship goods to a client that have overdue invoices. To avoid their account to be put on hold, clients should make sure that the payment is in Reel Diving’s account no later than the due date. Please note that bank transfers take 1-2 days.
b. Reel Diving does not ship goods to a client that are above their credit limit.
c. Reel Diving will send out reminders if invoices are not paid on time. After three reminders and 45days, Reel Diving may pursue legal action.
d. Failure to pay after reminders will lead to suspension of credit.
4.Shipping, duty, value added tax
a. Reel Diving dealer pricing does not include shipping cost, import duties, value added tax, or any other cost associated with the shipping.
Cost of shipping is usually added to the invoice, all other costs are paid for by the dealer. Additional cost such as repeated attempt of delivery, failure to deliver and subsequent return to Reel Diving, import and re-export duties etc. that are invoiced by the freight forwarder to Reel Diving may be invoiced by Reel Diving to the dealer.
5.Ownership of products, questioning of invoices, returns
a. All products supplied by Reel Diving remain the property of Reel Diving until payment has been done in full.Products may be reclaimed upon failure to pay the invoice.
b. Any questions, comments, or complaints regarding invoices must be sent to Reel Diving in writing within 10 days of the invoice date. For example, if a dealer has received the wrong goods, damaged goods, some goods is missing even though it was on the invoice, the wrong discount was applied etcetera, this claim must be sent in writing within 10 days of the invoice issue date. If the claim arrives later than 10 days from the invoice date it will not be considered, and the invoice must be paid as originally issued.
c. Return of products for credit.
As a general rule, dealers cannot return items to Reel Diving for credit. Dealers may contact Reel Diving if there are special reasons for a return. Dealers may not send products back for credit unless they have a written approval from Reel Diving. Dealers may never return items that are not stock items at Reel Diving. Dealers may not apply to return items if more than 10 days have elapsed after the invoice issue date.
If you have any question regarding invoicing or payments, please get in touch with our accounting department at: accounts@reeldiving.com