Important Update on Payment Terms
Posted on: 21st August 2024
Starting Wednesday, 21st August 2024, we will no longer offer a 5% early payment discount (settlement). The main reason for this change is to make our standard trade price as competitive as possible, so you receive the best price upfront, every time.
Don’t worry, this change doesn’t mean your price will suddenly become 5% more expensive. Our goal is to make our standard trade price as competitive as possible, and we will adjust our trade discounts to ensure we achieve this.
What does this mean if you make payment with order?
If you make payment with order, you automatically qualify for a settlement discount. Starting 21st August 2024, we will no longer offer a 5% settlement discount, but your trade price will already be as competitive as possible. This means you don’t have to factor in the settlement discount, and you’ll still receive the best price.
What does this mean if you are an account customer?
If you have a credit account, you currently receive a 5% settlement discount when you pay your invoice within 7 days. Starting 21st August 2024, we will no longer offer this 5% settlement discount, but your standard trade price will already be as competitive as possible, so you’ll receive the best price for the full length of your terms.
The layout of our invoices will be updated with this change, and you will also be given a new payment term code. Please follow the payment terms labelled on your invoice.
What do you need to do?
Nothing! We will update our systems on Wednesday, 21st August 2024. The settlement price field will disappear from our website, quotes, orders, and invoices, and our sales team will quote you the trade price.
Thank you for your ongoing custom and support. We are excited about this change, which will make our pricing easier to understand and simplify life for everyone involved. If you have any questions, please don’t hesitate to contact us on 01525 850085.
Yours sincerely,
Team Leisuretec
