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  3. Credit Accounts and Payment Terms

How do I apply for a Credit Account?

Only a Business can have a Credit Facility and so we need to ensure that the company information we have is correct. This requires a Credit Application.

There are two ways to apply for a Credit Account:

Instant FREE Credit (UK Customer only)

Originally designed to replace the need for Pro Forma Invoices which are costly to administer and take time to complete, our Instant Credit Account has proved to be incredibly popular with SME customers. Complete the simple one page application form and we will open an online credit account facility.

The account is limited to a total spend of £1000 and must be paid in full within NET 30 days of the invoice date. We do not require references, but you must be a UK Limited Company registered with Companies House and have been trading for a minimum of one year.

Usually, these accounts are activated within 24 hours.

To apply for Instant Free Credit limited to a maximum amount of £1000:

  • You must be a business registered at Companies House in the UK
  • You must have been trading for more than three years.
  • You must have a valid United Kingdom VAT number
  • You must agree to NET 30 day net payment terms

Click here to apply for an instant FREE Credit account

Note: We will run a credit check based on the details provided on the application.

Caution: Failure to pay balances within 30 days will exclude you from any further credit account facility.

Full Credit Account

The full Credit Account is intended for use by Business Users with a high monthly spend who have been trading for a minimum of one year. The full account allows credit limits in excess of £500 following the acceptance of credit references. This may also involve the use of a third party credit checking agency. All new Credit Accounts are based on strict Net payment terms.

Tip: Export customers can also apply for a Full Credit Account subject to satisfactory credit checks and payment for the first order being completed on a Pro Forma basis.

To apply for Full Credit Account:

  • You must be a registered company in the country of operation
  • You must provide TRADE REFERENCES based in the United Kingdom
  • You must have a valid TAX number
  • You must agree to NET 30 day net payment terms

If you need longer payment terms or a larger credit limit then you will need to complete a Full Credit Account Application, this will ask for more information and our accounts team will conduct a credit check on your business, we will also require valid references to support your application.

Click here to apply for a Full Credit Account

Caution: Trade references MUST be from UK based companies. We will run a credit chack on the business details provided on the application.

How do I increase my Credit Limit?

Credit limits for full credit accounts are managed on a case by case basis. Please reach out to our Customer Success team to discuss your requirements.

Can I extend my Credit Terms?

Our standard Credit Terms are 30 Days Net. If you require extended terms then please consult with your Account Manager. Extended Credit Terms are agreed on a case by case basis and a full commercial review. 

What happens if my spending exceeds the Credit Limit?

For accounts that exceed the agreed credit limit, orders will be placed on HOLD until payment is made to reduce the outstanding balance. If this is happening constantly then engage with your Account Manager to discuss increasing your credit limit.

WARNING: Failure to meet agreed Credit Terms will put your account on STOP.

How do I know the status of my Account?

When logged into Silmid.com you can see the status and balance on your account. You can also download copy invoices and also a statement of account showing all outstanding balances. Your nominated credit contact will be sent invoices via email.

Note: We no longer provide paper copies of invoices. You can download PDF copies from your account on Silmid.com