Payment terms and credit policy

Our full terms and conditions can be found here.

• The purpose of this Policy is to outline procedures for:
  • Opening new customer credit accounts and establishing customer credit limits
  • Reviewing and varying customer credit limits; and
  • Outlining the collection process from customers for goods sold on credit.

• 2.1 Invoices under $5,000 – invoiced in full before the commencement of the job. Payment is required upfront and prior to any work being completed.
• 2.2 Invoices over $5,000 – deposit for 50% of the estimated final invoice is sent, payment required before work commences. Balance due before release of any goods or services.
• 2.3 Trade Accounts – Customers that spent over $5,000 per month are eligible to apply for a trade account. All new customers must submit a credit application form and be approved prior to any trading terms being offered.

• 3.1 If purchase orders are required, this information must be provided at the time of quote acceptance.
• 3.2 Please send all purchase orders via email to accounts@emroy.com.au.
• 3.3 Additional identifying information may be added after an invoice is generated by emailing the accounts team.

• 4.1 All new customers must complete a credit application (Credit Application) in full.
• 4.2 The accounts team will review the customer’s credit worthiness by obtaining a credit report from an accredited provider for all accounts in excess of $20,000 credit limit.
• 4.3 The customer’s trade references, as detailed in the customer’s Credit Application, will be checked.
• 4.4 Any credit terms greater than $10,000 require a personal guarantee to be signed.
• 4.5 If the credit limit has been reached or exceeded, all orders will be placed on hold until the account has been paid in full.

• 5.1 The following factors when determining a customer’s credit worthiness:
  • completed credit application;
  • full compliance with our terms and conditions of trade by the customer;
  • registration of business;
  • favourable trade references (at least 2, preferably 3);
  • length of time in business;
  • amount of credit requested;
  • validation process though accredited credit provider.
• 5.2 If the customer refuses to sign a Guarantee, the account is referred to the director for written approval to open without guarantee.

• 6.1 If a Relevant Change occurs with respect to an existing customer, a new Credit Application will be sent to the customer to complete in full and return to our account department, in which case the procedure for new customers outlined in clause 3 of this Policy will apply.
• 6.2 The Relevant Changes are:
  • increase in credit limit;
  • change of owner;
  • change of directorship;
  • change of trading name;
  • any other circumstance determined by the director or accounts team.
• 6.3 If necessary, the accounts team may close the customer’s account upon the Relevant Change occurring.

No. of days overdue	Action
1-2	Accounts may be put on hold. If account is on hold, accounts may offer customers ‘payment before delivery’ account after appropriate discussions between accounts and sales teams.
2-21	Accounts and sales team to follow up payment with customer.
30+	Matter referred to recovery team for legal review. Trade account subject to closure.