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The Corporation subscribes to taking
a commercial approach with credit
and debt management practices.
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The Corporation's preference is
for all fees and charges to be paid
in advance.
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Where credit arrangements are entered
into, customers must where practicable
in advance complete a credit application
or acknowledge all terms and conditions.
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The Corporation renders invoices
within 5 working days of the service
or facility being provided or within
5 working days from the end of each
month.
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The Corporation's payment terms
are 14 days from the date of issue
of invoice.
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The Corporation reserves the right
to withdraw/prevent any services/facilities
to customers who have an overdue account.
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The Corporation will charge interest
on overdue accounts which will be
set according to the Corporation's
primary banking institution, Business
overdraft - indicator lending rate,
plus an additional 5%. Interest charges
will accrue on a daily basis on any
overdue amount.
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The Corporation reserves the right
to request Director's personal guarantees
upon application of credit by corporations
or entities with a business name.
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The Corporation reserves the right
to request security deposits and/or
bank guarantees from customers when
using the services/facilities of the
Corporation.
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The Corporation will institute legal
proceedings on debtors when it is
considered commercially viable to
undertake such action.
