CREDIT APPLICATION

By submitting this application, you authorize HARDEX BRAKES CORP. and all affiliated to run a credit check on your business.

 

1. Eligibility:

This credit is only applicable for orders with minimum total invoice amount of $50,000 USD or more (FOB Value – Before Freight).

 

2. Documents Required:

Please email scanned copies of the following documents to finance@ecobrex.com

a) Credit Application

b) Signed & Stamped Copy of Pro-Forma Invoice

c) Signed & Stamped Copy of Wholesale Purchase Agreement

d) Copy of Passport for the shareholders

e) Copy of Trade License

 

3. Time Frame:

a) The Credit check will usually take 1 to 7 business days.

b) The length of credit facility will be decided by Financing party depends on Customer’s Credit history & financial conditions. The usual payback time is 30, 60 or 90 days after the arrival of cargo to the destination port.

c) The limit of credit will be decided by Financing party depends on Customer’s Credit history & financial conditions. The amount can be anywhere from $50K and more.

d) The Credit Facility Approval is only valid for 14 days, therefore it’s absolutely IMPORTANT to make sure the 30% advance payment for the order invoice will be paid in maximum 14 days. If the credit facility is expired and is not used, it will NOT be re-issued again and the Financing party will refuse to re-approve.

 

4. Payback:

The remaining balance payment of 70% must be paid back directly to the Financing Party in 30, 60 or 90 days (Depending on the credit approval) from the date of cargo arrival notice (incoterm being CIF destination port). The client is fully responsible to clear the cargo from the custom immediately upon arriving & any delay in clearance cannot extend the loan pay back time period.

5. Fees:

2.5% bank processing fee will be added to the Invoice. (This cannot be waived)