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Credit Control Policy


This credit control policy sets out the requirements for payment terms with Goodwear Shoes Ltd’s (the ‘Company’) customers.


This policy applies to all sales that are made within the United Kingdom and internationally.


The Company agrees to extend credit to customers that meet the threshold for granting credit. The maximum credit that can be granted is £2,500 with no security interest. The maximum credit limit may be increased on a per customer basis, subject to the approval of one of the directors of the Company.

All payment terms are net 21 days. Credit applications will be reviewed to determine credit worthiness. In the event of a low credit score, credit level may be reduced. The repayment history of all customers will be reviewed on a periodic basis to determine whether existing credit levels need to be revised.


The directors of the Company are authorised to extend credit to customers and provide them with information regarding their credit status. Other members of the credit control team may also communicate with customers regarding their credit status and payment responsibilities.


Invoices will follow the Company’s standard template and provide all necessary information. Customers will be invoiced on the same day that the order is dispatched.


The collection schedule will be as follows:

1.     As soon as an order is placed, a quote will be provided as soon as reasonably practicable;

2.     Once the quote is received by the customer, they will have 5 days to make any alterations;

3.     If applicable, a deposit invoice will be issued with a request for payment prior to orders being processed;

4.     As soon as orders are dispatched, an invoice for the full or balance (as may be applicable) will be issued to the customer.


If the invoice becomes 2 days overdue, a member of the credit control team and/or debt collection agency will be tasked with recovering the amount owed.


The preferred payment method is by bank transfer. Other payment methods are available upon request.


Standing order payments can be set up at the time the invoice is issued, giving the option of the balance to be paid over the 21 day credit limit.


This policy is applied in conjunction with the Company’s general terms and conditions.

Payment Methods
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