Credit Terms and Conditions

Last Updated: March 18, 2026

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, and regulatory compliance, 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 trade, including regular purchases and timely payments.
  • New clients without prior trading history may transact via standard payment methods such as advance payment or invoice-based purchases until sufficient history is established.
  1. Business Documentation (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 license
  • Identification for directors or proprietors (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/accounts representative

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

  1. Credit Evaluation Process

Credit applications are 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 request is approved, declined, or requires additional information.

  1. Credit Limits and Payment Terms
  • Approved credit facilities are assigned a credit limit and payment period based on 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 period to maintain the credit arrangement.

Late payments may result in account review and appropriate measures to recover outstanding balances.

  1. 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 review outcomes.

  1. Client Responsibilities

Clients using credit facilities are expected to:

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

Timely payments and clear communication support a continued credit relationship.

  1. Ownership of Goods

Unless agreed otherwise in writing, ownership of goods supplied on credit remains with Zeneric Africa Company Limited until payment is received in full. Customers should settle invoices promptly to ensure ownership is fully transferred.

  1. Payment Default

If invoices remain unpaid beyond the agreed period:

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

Client information provided during the credit application will be handled confidentially and used for:

  • Credit evaluation
  • Account management
  • Regulatory or compliance purposes

All personal and business data is managed in accordance with Kenya’s data protection regulations.

  1. 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 legal channels in accordance with Kenyan law.

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