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Establishing A Corporate Credit
Account
A corporate credit account is required for corporate credit
purchases using a purchase order (PO).
Credit Application
- A credit application must be accompanied by an order.
- The corporation must be based in the United States.
- Required information for credit application:
- Company name
- Billing contact
- Billing address
- Telephone number
- Fax number
- Bank reference
- Three business references
Approval Period
- Approval of credit usually takes 1 week.
Revocation of Credit
- Credit can be revoked at any time for any reason at
RISTEC’s discretion.
Customer Account Number
- Corporate account numbers are based on one account for each
bill to address. Companies with several billing addresses will have separate accounts for
each bill to address.
Credit Limit
- Credit limit is based upon ability to pay, past purchases,
and payment record.
- To increase of credit limit the customer must contact RISTEC and request an extension of
their credit limit, credit limit will not be automatically increased.
- Customers with poor payment history will have their credit limit lowered prior to being
put on credit hold. A statement of reduced credit limit will be faxed to the account bill
to address.
Credit Hold
- Statement of credit hold: The customer will be
notified via fax of statement of credit hold if payment falls behind.
- Resumption of credit must be reapplied for as if it were a new credit account.
International Credit
- No corporate credit is available for corporations based
outside the United States.
- International orders will only be accepted with credit card or EFT (electronic funds
transfer).
Account Statement
- An account statement will be faxed for overdue accounts only
unless requested.
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