Device Rescue provides Net Terms invoicing for approved businesses, allowing you to make purchases on credit and pay later based on your approved terms. Here’s how it works:
Credit Limit and Approval
- When you apply for Net Terms, we either:
- Assign a credit limit based on your business profile.
- Approve your requested credit limit (if deemed reasonable).
- This limit defines the maximum balance you can accumulate before requiring payment.
Invoicing Process
1. Instant Invoice When Credit Limit is Reached
- If your credit limit is reached or exceeded, an invoice is immediately generated for the outstanding balance.
- The invoice will reflect your Net Terms due date (Net 15 or any other terms set for your account).
2. Monthly Auto-Invoicing on the 1st of Each Month
- On the 1st of every month, we will automatically generate an invoice for all pending invoice items, regardless of your credit limit usage.
- This means:
- Even if you have just $0.01 in pending charges, an invoice will be created under your Net Terms.
- The invoice will have the standard due date based on your approved terms.
Example Scenarios
| Scenario | Action Taken |
|---|---|
| You reach your credit limit during the month | Immediate invoice is generated |
| You have $50 in pending charges, but your credit limit is $5,000 | Auto-invoice is created on the 1st of the month |
| You exceed your credit limit by $200 | Immediate invoice is generated, due based on your Net Terms |
Keeping Your Account in Good Standing
- Ensure timely payments to maintain or increase your credit limit.
- Late payments may lead to a reduced credit limit, late fees, reporting to business credit agencies, and/or suspension of Net Terms privileges.
For any billing inquiries, reach out to the Device Rescue Billing Team.