TERMS AND CONDITIONS FOR BUREAU MEMBERSHIP
- Your trading partners performance regarding the payment of invoices is measure by the Bureau from the historical data of the invoices that you and the other Bureau members have issued to him.
- The Bureau Credit Report, produced from this data, is able to identify the good credit risks, the poor payers, and the bad credit risks, amongst your customers.
- Every member company and it's employees are bound by our legalities. If you are in doubt then please review these now
- A credit report provides you with the following details on your current or prospective trading partner:
- Invoice payment history.
- Any registered bad debts.
- Any invoices written off.
- Any registered court actions.
- Invoice payment history is indicated as an average late payment figure shown in days. This figure is calculated from the performance information held in the Bureau, covering the six months before the date of the request.
- Prompt payment of invoices by your customer will enhance their credit rating within the Bureau, thus allowing other Bureau members to quote these customers for goods or services more confidently.
- Late payment of invoices are permanently recorded by the Bureau, however, only the past six months trading history is considered when producing an average late payment rating for the credit report.
- Bad Debt is a late payment that has been allowed to continue unchecked for a period longer than 6 months. In this case the credit report will highlight all bad debts by indicating the total amount of bad debt registered against the company in question.
- Invoices written off are registered with the Bureau by its members, and remain permanently on file against the debtor. The date and the total amount concerned in past 'written off' invoices will appear on the credit report.
- Court actions taken out by Bureau members on defaulting customers are registered by the Bureau and are listed on file against the defaulting company. All registered court actions are presented in the credit report.
- Credit rating request forms are supplied by the Bureau to each member and are also available on-line. The form is designed to be faxed or posted or emailed to the Bureau before each credit check is performed
- The results of a credit check are returned to the requesting member within 3-5 Days, and always to a predetermined fax or PO Box number.
- Payment for the credit reports issued by the Bureau is on a monthly basis. Each member that has requested credit checks during a month, will be invoiced for those checks at the end of that month. Payment is then due before the end of the following month.
- Telephone credit reports are not issued by the Bureau at any time.
- Non members are not allowed to obtain credit reports from the Bureau.
- Details on private people are not recorded within the Bureau. No credit reports are issued on individuals.
- Confidentiality is important in business however, from the moment your customer is unwilling to pay you for services or goods you have supplied , you are no longer obliged to keep the details of that transactions with them confidential.
|
  |
2 Simple Steps will enable you to Join!