Trade Account Terms
These Trade Account Terms apply to any business customer which applies for, opens, or uses a trade account with BN London Ltd.
1. Eligibility
Trade accounts are available only to customers acting in the course of business. BN London Ltd may request company registration documents, VAT information, trading details, identity documents, credit information, bank details, and other verification material before approving or maintaining an account.
2. Account Opening
The opening of a trade or web account does not mean that credit terms have been granted. New accounts start on bank transfer or credit card terms.
3. Future Credit Review
After the first 3 completed orders, BN London Ltd may review the account for credit terms. Any such review is discretionary and may take into account trading history, order profile, payment performance, credit checks, fraud-prevention checks, insurer decisions, business verification, and any other information BN London Ltd reasonably considers relevant.
4. No Obligation to Grant Credit
BN London Ltd is under no obligation to grant, continue, increase, or maintain any credit facility. Any credit limit, payment term, or account facility may be refused, reduced, suspended, amended, or withdrawn at any time, with or without notice, where reasonably necessary.
5. Customer Information
The customer must ensure that all account information remains accurate and up to date, including company details, trading address, billing address, accounts contact, directors or authorised persons, VAT status, and payment information.
6. Orders and Authority
BN London Ltd may rely on any instruction, order, approval, or communication reasonably appearing to come from the customer?s authorised personnel, account users, or purchasing contacts. The customer is responsible for controlling internal access to its account.
7. Payment and Default
Where credit terms are granted, invoices must be paid strictly in accordance with the agreed terms. If any invoice is overdue, BN London Ltd may suspend the account, revoke credit, place the customer back on prepayment terms, cancel pending orders, charge interest and recovery costs as permitted by law, and require further verification or security.
8. Set-Off and Deductions
All amounts due must be paid in full, without deduction, withholding, set-off, or counterclaim except where required by law or expressly agreed in writing by BN London Ltd.
9. Monitoring and Checks
BN London Ltd may carry out credit, identity, fraud-prevention, sanctions, business-verification, and compliance checks when an account is opened, during account use, and when any future credit review is considered.
10. Suspension and Closure
BN London Ltd may suspend, restrict, or close any trade account where reasonably necessary for non-payment, suspected fraud, sanctions risk, inaccurate information, misuse, legal compliance, or other legitimate operational or commercial reasons.
11. Related Terms
These Trade Account Terms must be read together with our Terms of Sale, Payment Methods, Privacy Policy, Returns and Refund Policy, Shipping and Delivery Policy, and Warranty.
12. Governing Law
These Trade Account Terms are governed by the laws of England and Wales, and the courts of England and Wales shall have exclusive jurisdiction unless mandatory law provides otherwise.