Effective Date: 12/12/2024
Last Updated: 12/12/2024

At BestBatch, we provide flexible credit facilities to support our customers while ensuring timely payments and maintaining financial stability. This policy outlines the criteria, terms, and procedures for extending and managing credit.

1. Purpose

This Credit Policy is designed to:

• Offer tailored credit facilities to eligible customers.
• Encourage timely payments and reward good payment behaviour.
• Protect BestBatch from financial risks through structured credit management.

2. Scope

This policy applies to all customers seeking credit facilities for the purchase of chicken and meat products from BestBatch.

3. Credit Eligibility

To qualify for a credit account, customers must:

• Be a business registered in Scotland.
• Have been purchasing from BestBatch for at least 2 months.
• Provide accurate and complete business details, including company name, company number, and business address.
• Submit a credit application form.
• Agree to the terms and conditions of this policy.

4. Credit Assessment

4.1 Case-by-Case Basis: Credit limits are assigned individually, based on:

• Purchase history and payment behaviour.
• Recommendations from the debt team.

4.2 Credit Limit Adjustments: Limits may be increased over time for customers with consistent on-time payments.

4.3 Exceptional Circumstances: Payment terms may be adjusted temporarily for long-standing customers or those providing proof of financial difficulty. These adjustments will be documented by the debt team and reviewed monthly.

5. Payment Terms

5.1 Standard Terms: Payments are due within 7 days from the invoice date unless otherwise agreed in writing.

5.2 Grace Period: An additional 7 days is granted beyond the due date to allow for unforeseen delays.

5.3 Consequences of Late Payments:

• For repeat late payments, escalating actions include:
  • Temporary reduction in credit limits.
  • Suspension of credit facilities.
  • Permanent termination of credit privileges in extreme cases.

6. Account Reviews

6.1 Monthly Review: All credit accounts are reviewed monthly to ensure compliance with payment terms.

6.2 Reinstating Suspended Accounts: Suspended accounts can be reinstated under the following conditions:

• Full payment of outstanding balances, including any late fees.
• Written agreement to revised credit terms (if applicable).
• A probationary period of consistent on-time payments before reinstatement of full credit privileges.

7. Dispute Resolution

7.1 Disputes regarding invoices or payments must be reported to the debt team within 7 days of the invoice date.

7.2 While disputes are under review, undisputed amounts must still be paid according to agreed terms.

7.3 The debt team will document all disputes and resolutions for record-keeping.

8. Communication

8.1 Customers will be notified of credit approvals, updates, and late payments via email.

8.2 While automated reminders are not yet available, the debt team will communicate manually as required.

9. Data Protection

9.1 BestBatch processes customer data in compliance with the UK GDPR and the Data Protection Act 2018.

9.2 Credit checks may leave a record on the customer’s credit file, visible to other lenders.

10. Compliance

This policy adheres to the UK Late Payment of Commercial Debts Regulations to ensure fair and ethical business practices.

11. Amendments

BestBatch reserves the right to amend this policy at any time. Updates will be communicated to customers via email and made available upon request.

12. Contact Information

For questions or assistance regarding credit facilities, please contact:

BestBatch
Glasgow, Scotland
[email protected]