Payment Terms & Finance Policy
New Customer Account
For new customers, we require the first 2 orders to be paid with one of the following:
- Cheque upon delivery
- PayNow upon delivery
No credit terms will be extended for the first two (2) orders.
Upon successful payment of the first two (2) orders, a 30-day credit term will be offered starting from the third (3rd) order onwards.
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Payment Options
NxGenz currently accepts the following modes of payment:
- Bank transfer -UOB Account No.: 388-3056-203
- PayNow - UEN No.: 201530575M
- Credit Card
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Credit Control & Payment Reminders
Days Overdue Action
- ≤ 30 days No reminder will be sent.
- > 30 days 1st Payment Reminder will be issued.
- > 60 days 2nd Payment Reminder will be issued.
- > 90 days 3rd Payment Reminder will be issued and deliveries will be suspended until outstanding amounts are cleared.
- > 120 days Formal Demand Letter will be issued to the registered owner of the company.
- > 150 days Debt recovery process will be initiated and all related costs will be borne by the customer.
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Important Notes
Accounts with invoices overdue by more than 90 days will be automatically placed on credit hold, and no new deliveries will be processed until the account is brought up to date.
We reserve the right to revise our Payment Terms & Finance Policy at any time without prior notice.
For any questions related to your account or payments, please contact NxGenz Finance Team.