Gospel Light Trade & Credit Policy
Thank you for your interest in purchasing from Gospel Light. Please review the important information listed below regarding our specific credit requirements and conditions for our customers.
Regular trade discounts will be allowed only to retail stores who conduct business during normal business hours. 35-40 hours a week: are open to the general public; display an outside sign; pay licenses and / or taxes required by law; and generally have overhead expenses such as rent and salaries.
1. All new accounts must provide the following items for review in the credit approval process:
a. A completed & signed Gospel Light credit application.
i. A current financial statement may expedite this process.
b. A resale tax certificate/form or a sales tax exempt certificate
c. Any additional information that may further assist in the credit approval process:
i. Pictures of the store front and public sign
2. If the account is approved for net terms, our normal billing terms are net 30 days, with a 1% cash discount if payment is received by the 15th day of the invoice date. Terms are granted from the invoice date and payment should be received on or before the due date listed on the invoice. A finance charge of 1 1/2% will accrue on any invoice not paid within the terms provided on the invoice. These charges are due and payable. Please note that all accounts are reviewed regularly to ensure that their payment terms are being met. All open credit terms will be subject to account status. If prepayment is required, order/invoice no longer qualifies for the early pay cash discount.
3. Accounts with outstanding invoices will be placed on hold and no further shipments will be allowed until satisfactory payment has been received.
4. All orders/sales are subject to credit approval. Promotional billing terms may not be extended to accounts that are not in good credit standing.
a. Must be in U.S. funds and drawn on a U.S. banking institution.
b. We also accept Master Card, Visa, American Express and Discover.
6. Any payment returned to us via the bank will be charged back to the account along with a check fee. The account will be placed on credit hold until the returned payment is replaced via a money order, credit card or a cashier's check.
7. In the event of default, the customer is responsible for repayment of all costs associated with collecting any outstanding balance. This includes all collection fees, attorney fees and any court costs that are generated.
8. Gospel Light requires written notification of any change in ownership or organizational structure in which the account was originally established.