This Trade Credit Agreement applies where Sitex Direct, trading through Sitex Industrial Ltd, approves a business customer for a credit facility. It is made between Sitex Direct T/A Sitex Industrial Ltd as supplier and the customer applying for or using trade credit terms.
Sitex Direct is registered in England and Wales under Company Registration Number 10610868 and is VAT registered under VAT Number GB 261 6742 01. The registered address is Unit 4, Maplebank Poultry Farm, Knatts Valley Road, West Kingsdown, Kent, DA4 0JY.
This agreement applies from the date credit is approved or from the date the customer first uses the credit facility, whichever occurs first. It operates in addition to the Sitex Direct Terms and Conditions, Trade Account Terms, Payments and Pricing Policy, Delivery and Fulfilment Policy and any invoice, quotation or written account arrangement.
Credit facilities are not automatic and are granted only after review and approval by Sitex Direct. A customer may hold a trade account without being granted credit. Sitex Direct may request business details, company information, VAT information, trading history, references, bank details, director or proprietor information, credit checks, payment history or any other information reasonably required to assess credit suitability.
Sitex Direct may decline a credit application without being required to provide detailed reasons. Approval of credit does not oblige Sitex Direct to accept every order or maintain credit terms indefinitely.
Approved trade credit accounts operate on standard payment terms of 30 days from the date of invoice unless Sitex Direct confirms different terms in writing. Payment terms are calculated from the invoice date rather than the delivery date, and payment must be received in cleared funds by the due date stated on the invoice.
New credit accounts may be granted a provisional credit limit during an initial review period. Where appropriate, Sitex Direct may apply a shorter temporary payment period, including 14 days from invoice date, while the account history, payment conduct, order pattern and commercial relationship are reviewed. Following satisfactory account performance, the account will normally remain aligned to standard 30-day payment terms unless otherwise agreed or amended.
The provisional credit limit may restrict order value, order frequency, available product types, delivery locations or account permissions. Orders that exceed the approved credit limit may require payment in advance or separate approval before processing.
Although standard approved trade credit terms are 30 days from invoice date, Sitex Direct may amend, reduce, suspend or withdraw payment terms at any time where it considers this commercially necessary or appropriate. This may include reducing payment terms, requiring payment in advance, lowering the credit limit, placing the account on hold or withdrawing the credit facility.
Any review may take account of payment history, account conduct, financial position, order volume, credit risk, trading relationship, overdue invoices, disputed balances, chargebacks, returned payments, changes in business circumstances or other information relevant to credit control.
Sitex Direct may review, amend, reduce, suspend or withdraw a credit limit at any time. This may occur where payment is late, order volume changes, credit checks raise concerns, the customer’s financial position changes, insolvency risk arises, account information is inaccurate, disputes increase, chargeback risk exists or Sitex Direct otherwise considers the account to present increased risk.
A customer may request a credit limit review, but increases are not guaranteed. Sitex Direct may require updated financial, trading or account information before considering any increase.
Orders placed under a credit facility are governed by the Sitex Direct Terms and Conditions and any applicable product, quotation, supplier, marketplace or delivery terms. By placing an order on credit, the customer confirms that the order is authorised and that payment will be made in accordance with the agreed credit terms.
Sitex Direct may refuse or hold orders where the credit limit would be exceeded, invoices are overdue, account information requires verification, risk checks are triggered, products are restricted, or the order appears inconsistent with normal account activity.
Invoices issued under an approved trade credit facility must be paid in full within standard 30-day payment terms from the date of invoice unless Sitex Direct confirms different terms in writing. Payment terms are calculated from the invoice date rather than the delivery date.
The customer must ensure that payments are made with the correct reference and are received in cleared funds. Payment is not treated as received until Sitex Direct can identify, allocate and clear the payment against the relevant account.
If payment is not received by the due date, Sitex Direct may suspend the credit facility, place the account on hold, require payment in advance, cancel unfulfilled orders, withdraw credit terms, reduce the credit limit, pause dispatch, withhold further supply, charge interest where legally permitted and recover reasonable costs of collection.
Late payment may also affect future trade pricing, account status, quotation support, order approval and continued eligibility for standard 30-day payment terms.
If the customer disputes an invoice, the customer must notify Sitex Direct promptly and provide clear reasons, supporting documents and the amount disputed. The customer must pay any undisputed amount by the due date.
A dispute does not automatically suspend the customer’s payment obligation for other invoices. Sitex Direct will review genuine disputes reasonably, but may place the account on hold where disputes appear abusive, repeated, unsupported or used to delay payment.
Until Sitex Direct or the relevant seller has received full payment in cleared funds for goods supplied on credit, ownership of those goods remains with Sitex Direct or the relevant seller. The customer must keep goods identifiable where reasonably possible and must not create any charge, lien or security interest over unpaid goods.
If payment is overdue, Sitex Direct may require the customer to return unpaid goods where legally permitted or may take recovery action for the sums owed. Risk in goods may pass before ownership, depending on the applicable delivery terms.
The customer is responsible for all orders placed through its approved account by authorised users, employees, agents, branches, departments or representatives. Sitex Direct may treat orders placed through the account as authorised unless it receives written notice before processing that a user is no longer authorised.
The customer must maintain appropriate internal controls to prevent unauthorised purchasing and must notify Sitex Direct promptly of changes to authorised contacts, billing contacts, delivery locations, business status or ownership.
The customer must notify Sitex Direct promptly of material changes that may affect credit risk or account operation. This includes changes in ownership, legal entity, trading status, address, bank details, VAT status, insolvency position, financial difficulty, business closure, administration, liquidation, county court judgments or material disputes.
Failure to notify Sitex Direct of material changes may result in suspension or withdrawal of credit terms.
Sitex Direct may set off refunds, credits, account balances, rebates or sums otherwise payable to the customer against overdue invoices, outstanding charges, recovery costs or other sums owed, where permitted by law and account terms.
Credits issued to a credit account do not remove the customer’s obligation to pay remaining balances by the due date.
Sitex Direct may withdraw credit terms at any time where it considers this commercially necessary or appropriate. Withdrawal of credit does not close the trade account unless Sitex Direct confirms this separately, but it may mean that future orders require payment before processing.
All outstanding invoices remain payable immediately according to their existing due dates unless Sitex Direct demands earlier payment due to breach, insolvency, account closure or other lawful reason.
This Trade Credit Agreement forms the agreement between Sitex Direct and the customer in relation to trade credit facilities, subject to any written credit approval, invoice terms or signed account agreement. It does not replace the main Sitex Direct Terms and Conditions or other policies governing product sale, delivery, returns, marketplace transactions or data protection.
Sitex Direct / Sitex Industrial Ltd
Unit 4, Maplebank Poultry Farm
Knatts Valley Road
West Kingsdown
Kent
DA4 0JY
Email: support@sitexdirect.com
Website: www.sitexdirect.com