| Credit Overview and Management |
The Credit System enables you to easily manage the available funds on your account and assign them to your pending HIP orders.
At any given time we calculate the available funds on your account by looking at the total money paid in against all your orders and adjustments. This is summarised in the formula below.
Credit Limits
We may enable a pre-agreed credit limit on certain accounts. This decision however will be based on your order history and the credit status of the applicant. If a credit limit is activated on your account then this will usually be enough to cover a few orders initially and we will increase the limit incrementally depending on your requirements and how the account has been managed.
Invoices
HIP manager use standard 30 day invoicing terms. An invoice will be issued on all credit accounts that show an outstanding balance at the beginning of each month or once the balance has expired (whichever comes first). All payments must be made and cleared on account within 30 days of the invoice being issued.
Adjustments
From time to time it may be necessary to add an adjustment to your account that serves to increase or decrease your available funds. This could occur if you later decide to add or remove an item from an order.
Obtaining Statements
You can obtain a statement of activity on your account from the credit overview screen. There are separate statements for orders, invoices, payments and adjustments. The statements are in printable format and can be opened by clicking the corresponding magnifying glass to each of the categories.
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