In business, a credit term refers to the agreement between a buyer and a seller that allows the buyer to purchase goods or services on credit and pay for them at a later date. Credit terms specify the duration within which the payment must be made and any applicable conditions or discounts for early payment. Commonly expressed in terms like "net 30," "net 60," or "net 90," these terms indicate the number of days the buyer has to settle the invoice. Credit terms are a crucial aspect of managing cash flow and fostering good business relationships, providing buyers with the flexibility to manage their finances and sellers with the assurance of receiving payment within a specified timeframe.
Credit Term Solution
Enhance your purchasing power and optimize your cash flow today!
Experience seamless B2B transactions
with ElectGo's flexible credit term solution
ElectGo offers a flexible credit term solution designed to enhance the purchasing power of our customers. By providing tailored credit terms, we enable businesses to optimize their cash flow and streamline their procurement processes. Our solution ensures that companies can manage their finances more effectively while maintaining steady operations and growth. With ElectGo's credit term payment options, businesses can enjoy a seamless, efficient, and financially empowering buying experience, tailored to meet their unique needs.
Note: To use a credit-term payment solution, you have to be our credit-term customers. You can fill in this form if you want to become our credit-term customers. It will only apply to customers who are based in Singapore.
What Are the Key Features of ElectGo's Credit Term Solution?
Flexible Payment Terms
- Instead of cash purchases, credit term helps in your finance budget and planning, cushioning the impact to your company cash reserves.
- This adaptability allows you to plan your expenditures more effectively and maintain smoother financial operations.
Easy Application Process
- Our credit term payment solution features a streamlined and user-friendly application process.
- We prioritize efficiency and simplicity, ensuring that your credit term approval is quick and hassle-free.
- Apply credit-term from here
Dedicated Account Management
- Offer personalized support through dedicated account managers who assist you in managing your credit terms and payments.
- These account managers provide regular updates and communication, ensuring a smooth and efficient transaction process.
Real-time Data
- Real-time access to the supplier's website allows you to view the most up-to-date product information, pricing, and availability.
- Real-time access helps prevent issues such as ordering out-of-stock items or missing out on promotional pricing
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Optimize Your Procurement with ElectGo's Credit Term Solution
What Are the Key Benefits of ElectGo's Credit Term Solution?
Easy to Onboard
- ElectGo’s credit term payment solution is designed with an easy onboarding process, ensuring that your business can quickly and effortlessly start enjoying the benefits of flexible payment options.
- Our streamlined application process minimizes the time and effort required to get approved, allowing you to focus on what matters most – growing your business.
Improved Cash Flow Management
- ElectGo’s credit term payment solution helps your business maintain a steady cash flow by aligning payment schedules with your revenue cycles.
- This feature reduces the financial strain of large upfront payments, allowing you to allocate funds more efficiently and ensure your operations run smoothly without financial interruptions.
Operational Efficiency
- Our credit term solution streamlines your procurement processes by reducing the need for frequent payment arrangements.
- This efficiency simplifies transaction management, allowing your team to focus on core business activities rather than administrative tasks.
Stronger Supplier Relationship
- Utilizing ElectGo's credit term solution builds trust and reliability between your business and our platform.
- Consistent and reliable credit support fosters long-term partnerships, encouraging ongoing collaboration and mutual growth.
- This trust can lead to more favorable terms and opportunities in future transactions
How Does Credit Term Solution Work?
1. Log in to ElectGo (by invitation only)
- The process begins with an invitation to access the ElectGo platform. Once invited, you can log in to their account on ElectGo, ensuring that only authorized businesses can utilize the credit term payment solution.
- If you would like to apply for credit-term, click here
2. Browse ElectGo online
- After logging in, users can browse the extensive range of products available on the ElectGo platform. This step allows you to explore and select the items you need for your business operations.
3. Add items to the cart and self-generate a quotation (if needed)
- You can add the selected items to their shopping cart. If a quotation is needed, they can self-generate it directly from the cart. This feature provides flexibility and convenience in planning and budgeting for purchases.
4. Email confirmation sent to buyer & supplier team
- Once the items are added to the cart and the quotation (if any) is generated, an email confirmation is sent to both the buyer and the supplier team. This step ensures that all parties are informed and can verify the order details before proceeding.
5. Check out with credit term and choose last-mile arrangements
- In the final step, you can check out using the credit term payment option. You can also choose your preferred last-mile delivery arrangements, ensuring that the procurement process is completed smoothly and efficiently.
Frequently Asked Questions (FAQs)
Contact Us For More Details