Stop Credit definition
Examples of Stop Credit in a sentence
Every order or group of orders displayed on the DOCS screen with an “L” (Credit Limit Exceeded) which displays the following criteria must be referred to ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇ or ▇▇▇▇ ▇▇▇▇▇▇ for approval to release them from Stop Credit: The referral must be supported by a print of the relevant SLAD screens onto which must be written the order number(s) and value(s).
Failure to pay within the agreed credit terms will automatically create Stop Credit, and will not be re-commenced until payment is received for all amounts outstanding beyond agreed credit terms.
If RELN does not receive payment in full by the due date, then RELN may without notice place the Customer on Stop Credit and suspend supply of Goods until payment including any applicable interest charge is received in full and the Customer cannot make any claim (of any nature) if RELN elects to do so.