There are two ways to apply for a Credit Account:
How do I apply for a Credit Account?
A Credit Facility is exclusively available to businesses, which means it is essential for us to verify the accuracy of your company information. To initiate this process, you will need to complete a Credit Application.
You can apply for a Credit Account in two ways:
Instant FREE Credit Account** (UK customers only)
Our Instant Credit Account was developed to streamline the process of obtaining credit, eliminating the need for time-consuming and expensive Pro Forma Invoices. This offering has become a favourite among small and medium-sized enterprises (SMEs). To get started, simply fill out our straightforward one-page application form, and we will set up your online credit account promptly.
The account has a maximum spending limit of £2,000, which must be settled in full within 30 days from the invoice date. While we do not require references for this account, applicants must be a UK Limited Company that is registered with Companies House and has been actively trading for at least one year.
Usually these accounts are activated on the same day and allow you to place your order online within a few hours of submitting the application.
**Currently ALL credit accounts are not available to sole traders or partnerships. We reserve the right to perform a credit check on the Company details as provided. Completing an application does not guarantee an account will be authorised
Usually, these accounts are activated within 24 hours.
To apply for Instant Free Credit limited to a maximum amount of £2000:
- Business is registered at Companies House in the UK
- Business has been trading for more than one year
- Business has a valid United Kingdom VAT number
- NET 30 day payment terms are understood
Click here to apply for an instant FREE Credit account
Note: Please be aware that we will conduct a credit check using the information submitted in your application.
Caution: Please note that if you do not settle your outstanding balances within the 30-day period, you will be ineligible for any future credit account facilities.
Full Credit Account
The Full Credit Account is designed for Business Users who typically have a high monthly expenditure and have been operating for at least three years. This account offers credit limits that exceed £2,000, contingent upon the successful acceptance of credit references. The application process may also include a review by a third-party credit checking agency. All new Credit Accounts operate under strict 30-day Net payment terms.
Export customers are welcome to apply for a Full Credit Account as well, provided they pass the required credit checks and complete payment for their initial order on a Pro Forma basis.
Tip: Export customers are eligible to apply for a Full Credit Account, provided they successfully pass the necessary credit checks and complete payment for their initial order using a Pro Forma invoice.
To apply for Full Credit Account:
- Business must registered company in the country of operation
- 2x Trade References will be required; preferably based in the United Kingdom
- Business has a valid TAX number
- NET 30 day net payment terms are understood
Click here to apply for a Full Credit Account
How do I increase my Credit Limit?
Credit limits for full credit accounts are assessed individually based on specific circumstances. To discuss your needs and explore potential credit limit increases, please contact your Account Manager. info@silmid.com
Can I extend my Credit Terms?
Our standard payment terms are Net 30 days. If you need longer payment terms, please reach out to your Account Manager for assistance. Extended payment terms are considered on an individual basis and require a comprehensive commercial review.
What happens if my spending exceeds the Credit Limit?
If your account exceeds the established credit limit, your orders will be temporarily placed on HOLD until you make a payment to lower the outstanding balance. If this situation occurs frequently, we recommend contacting your Account Manager to explore the possibility of increasing your credit limit.
WARNING: Failure to adhere to the agreed Credit Terms will result in your account being suspended.
How do I know the status of my Account?
Once you log into Silmid.com, you can easily view your account status and current balance. Additionally, you have the option to download copies of your invoices and access a comprehensive statement of account that details all outstanding balances. Invoices will also be sent via email to your designated credit contact.
Note: We have transitioned away from issuing paper invoices. Instead, you can conveniently download PDF copies directly from your account on Silmid.com.