Credit Account Terms

Terelec Technologies Limited offers credit account facilities to approved trade customers. This page outlines the terms and conditions that apply to all credit accounts held with Terelec.

Eligibility

Credit accounts are available to registered UK businesses operating in the electrical trade, including sole traders, partnerships, and limited companies. All applications are subject to a credit check and approval at the sole discretion of Terelec Technologies Limited.

Credit Limits

An initial credit limit will be set based on the outcome of the credit assessment. Credit limits may be reviewed and adjusted periodically based on your payment history and order volume. Requests to increase your credit limit can be made by contacting our trade team.

Payment Terms

Unless otherwise agreed in writing, all credit account invoices are payable within 30 days from the date of invoice. Payment can be made by bank transfer (BACS), debit card, or credit card. Late payments may incur interest at the statutory rate permitted under the Late Payment of Commercial Debts (Interest) Act 1998.

Account Suspension

Terelec reserves the right to suspend or revoke credit facilities if payments are consistently late, the credit limit is exceeded without authorisation, or any information provided during the application process is found to be inaccurate.

Application

To apply for a credit account, please complete our trade account application form or contact our accounts team at trade@terelec.co.uk.