Reel Diving credit policy, valid from February 1st 2022
1. New clients
a. All new clients start on prepayment
b. 10 day credit of 2000€ is possible after the first order has been paid
c. After 10.000€ purchases, three months, or 10 orders, whichever comes first, 30 days credit can be granted with 10% of projected annual turn over
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 very large orders having to be pre paid).
b. It is the clients shared 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, 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 will send out reminders if invoices are not paid on time. After three reminders and 45 days, Reel Diving may pursue legal action.
c. Failure to pay after reminders may lead to suspension of credit.
d. Suspension of credit is decided on a case by case by Reel Diving after review of each case. It is possible to regain credit again after a time of pre-payment.
4. Ownership of products and returns
a. All products supplied by Reel Diving remain the property of Reel Diving and may be reclaimed upon failure to pay the invoice.
b. Return of products for credit. Clients may not send products back for credit unless they have a written approval from Reel Diving.
Any question regarding invoicing or payments please get in touch with our accounting department at: firstname.lastname@example.org