Payment Terms Policy
Central Coast Seafood commits and guarantees the highest quality products and the best customer service to each and every customer. Because our products are of a perishable nature, we must require prompt payment upon delivery. In order to open an account with Central Coast Seafood, a Credit Application and a Resale Certificate must be filled out for us to establish the legitimacy of your business.
Central Coast Seafood may elect to extend payment terms, dependent upon an applicant’s financial stability, credit history, and length of time in business. At the discretion of our Credit Department, Customers could be granted credit terms provided the following conditions are met:
- A Central Coast Seafood Credit Application has been submitted by the customer and is complete with signature of guarantee. Incomplete applications will not be given processing priority.
- A valid State Resale Certificate is required, and Central Coast Seafood's Resale certificate must be completed and signed.
- The business is established and has been operating under the current ownership and a valid business license for a minimum of two years.
- Credit references supplied by the customer have been reviewed and have provided evidence of positive credit experiences with other suppliers. References for experience with alcoholic beverage suppliers are not considered. Central Coast Seafood extends terms based on the overall review of the customers application information and the days Central Coast Seafood is willing to extend comfortably. Any terms may be increased or decreased at Central Coast Seafood’s discretion, with or without explanation. Central Coast Seafood reserves the right to discriminate based on customer credit ratings and payment performance with other vendors.
- If a Customer's preference is to pay COD, please indicate so when turning in the paperwork.
Description of Terms
Terms: Central Coast Seafood typically extends Pre-Paid Credit Card (customer must complete a CC Authorization Form), COD check or cash, 7, 14 and 21 day terms. Each invoice clearly states the terms and such terms are agreed to by evidence of the customer’s signature at the time of receipt. The invoice is due within the number of days stated. Occasionally depending upon business volume and other financial considerations, we may extend an account the privilege of Net 30 days, and also EOM10 terms, which means that payment is due by the 10th day of the following month for ALL purchases incurred on the current month. (While some invoices in this instance are 40 days old upon payment, others are as little as 10 days old and the average is 25 days.)
Statements: Statements are mailed to every account on the last day of each month. Weekly and Semi-Monthly Statements are also provided accordingly for customers with 7 or 14 day terms. Customers may request a customized statement method that suits their bookkeeping habits.
Late Fee Charges are billed to accounts on the last day of the month. All past due invoices are assessed a late fee at the rate of 1.5% per month. These charges are not negotiable, although they will be reduced or removed if caused by a Central Coast Seafood payment application error.
Disputed invoices or purchases: Customers are required to inspect their product at the time of delivery, noting in writing on the invoice any quantity or quality issues. Customers have 24 hours to contact Central Coast Seafood and request a credit against fresh products, and 7 days for frozen products. Because our products are highly perishable, Central Coast Seafood will not accept returns or authorize credits for any product claims after 7 days of receipt. Refer to Central Coast Seafood’s established Credit Policy for further details.