Credit Terms and Conditions

These Credit Terms and Conditions apply to clients requesting credit facilities from Zeneric Africa Company Limited. They outline the process, requirements, and responsibilities for businesses seeking credit.

Credit approvals are subject to evaluation of trading history, financial standing, documentation, and applicable compliance requirements and are not guaranteed.

1. Trade History Consideration

Businesses requesting credit are generally expected to have an established trading relationship with Zeneric Africa Company Limited.

  • Clients may need to demonstrate approximately six (6) months of consistent trading history, including regular purchases and timely payments.
  • New clients without sufficient prior trading history may transact using standard payment methods, including advance payment, until sufficient trading history is established.

2. Business Documentation and KYC Requirements

Applicants may be asked to provide relevant business documents, including:

  • Company or business profile outlining operations and services
  • Business registration certificate or sole proprietorship registration
  • Valid trading licence
  • Identification for directors or proprietors, such as a National ID or passport
  • Tax Compliance Certificate issued by the Kenya Revenue Authority (KRA)
  • KRA PIN and VAT certificate, where applicable
  • Bank statements for the previous six months
  • Financial statements, if available
  • Contact details for a designated credit or accounts representative

All documentation provided should be accurate and up to date to support the credit evaluation process.

3. Credit Evaluation Process

Credit applications may be assessed based on factors such as:

  • Previous transaction history with Zeneric Africa Company Limited
  • Payment consistency and reliability
  • Financial position based on submitted documents
  • Compliance with tax and regulatory obligations
  • Nature and scale of business operations

Applicants will be notified whether their credit request is approved, declined, or requires additional information.

4. Credit Limits and Payment Terms

  • Approved credit facilities are assigned a credit limit and payment period based on the evaluation results.
  • Standard payment terms may range from 7 to 30 days from the invoice date. Extended terms may be considered depending on trading history and financial standing.
  • Invoices must be settled within the agreed payment period to maintain the credit arrangement.
  • Late payments may result in an account review and appropriate measures to recover outstanding balances.

5. Credit Account Review

Credit facilities may be reviewed periodically. Clients may be asked to provide updated information, such as:

  • Financial statements or bank records
  • Updated compliance documents
  • Changes in business ownership or management

Credit limits or payment terms may be adjusted based on the outcome of a review.

6. Client Responsibilities

Clients using credit facilities are expected to:

  • Provide accurate documentation during the application process
  • Inform Zeneric Africa Company Limited of significant business changes
  • Settle invoices within the agreed payment terms
  • Communicate promptly regarding any payment or account issues

Timely payments and clear communication support the continued operation of a credit facility.

7. Ownership of Goods

Unless otherwise agreed in writing, ownership of goods supplied on credit remains with Zeneric Africa Company Limited until payment is received in full, subject to applicable law and the terms agreed with the customer.

8. Payment Default

If invoices remain unpaid beyond the agreed payment period:

  • The credit account may be reviewed.
  • Steps may be taken to resolve outstanding balances, including customer communication or adjustments to the credit facility.
  • Recovery actions may be pursued in accordance with applicable laws and commercial practices.

9. Confidentiality of Information

Information provided during the credit application process will be handled confidentially and used for purposes including:

  • Credit evaluation
  • Account management
  • Regulatory or compliance purposes

Personal and business information will be handled in accordance with applicable Kenyan data protection requirements.

10. Dispute Resolution

Clients with questions or disputes regarding credit facilities, payment terms, or account status should contact Zeneric Africa Company Limited directly.

Matters may be reviewed and addressed through discussion, mediation, or appropriate legal channels in accordance with applicable Kenyan law.

Contact for Credit Support

For credit-related inquiries, applications, or account support, please contact:

Zeneric Africa Company Limited
Address: Town House, 6th Floor, Room 606, Kaunda Street, Nairobi, Kenya
Phone / WhatsApp: +254 714 446 608
Email: sales@zeneric.co.ke
Website: www.zeneric.co.ke