Payment


FORMS OF PAYMENT ACCEPTED:
a)     Prepayment by credit card – credit card needs to be issued by a financial institution based in the United States
b)     Prepayment by check
c)     Prepayment by wire
d)     Bank of America counter deposit
e)     Credit terms
 
HOW TO RECEIVE CREDIT TERMS:
a)     Request terms from your local sales representative or your inside sales team member
b)     A credit application will be emailed to you
c)     The application MUST BE COMPLETED IN FULL
a.     Trade Reference Section - Must include a minimum of three valid credit references
i.     Vendor name
ii.     Vendor address
iii.     Vendor phone
iv.     Vendor fax
v.     If you have an account number with the vendor, include that as well
b.     Failure to complete the application can delay the credit application process as the form will be returned for the applicant to complete
c.      Upon completion, email or fax the credit application to our accounting department:
vi.     Email: accounts.receivables@pregelamerica.com
 vii.     Fax: 704-707-3001 – Attn: Accounts Receivables
d.     Once the completed application is received, PreGel will proceed with processing the application by requesting credit history from the references provided. The length of this process depends on how quickly the listed credit references respond to our request for information – on average, it takes approximately 30 business days.
e.     PreGel will review the credit history received from the listed references and communicate with the applicant with an informed decision.
f.      The entire process takes approximately 14 business days but can take longer depending on how quickly the credit references respond to our information requests.
 
CREDIT LIMITS:
New Customers:
a)     Credit limits will be approved based on the above standard terms, the amount of the sale and the credit worthiness of the customer.
b)     Credit worthiness is determined ty the best available credit information including but not limited to D & B ratings, credit information supplied by the credit references and vendors.
Existing Customers:
a)     Credit limits will be reviewed semiannually by PreGel’s accounting department (controller and accounts receivables personnel).
b)     Limits will be revised as necessary based on customer orders, customer credit worthiness and any other available information.
 
PAST DUE CREDIT CUSTOMERS:
a)     The account will automatically go on hold based on non-payment based on the customer’s individual terms and payment history with PreGel.
b)     No order will be released to ship until account is brought current
c)     An email communication will be sent to the pertinent contacts on the account making them aware
d)     Unsuccessful attempts at collection will result in a default account and will be turned over to a collection agency.

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