Swicofil considers every customer from the first contact onwards as a partner. In a good partnership one sticks to the agreements and to the words given. This includes adhering to the agreed payment terms.
We judge a customer by his payment performance. Customers who pay in time or even before the due date always get our unconditional priority treatment and support.
Clients who drag the feet fulfilling their part of the entered obligations or who delay payments run the risk of loosing that support. We have set up a pre-due-date reminder system to ensure that every customer is able to pay in time. Therefore late payers expose themselves automatically to advance payment terms.
There are NO open credit terms at Swicofil AG unless we are covered by our credit insurance or by another 100 % safe financial tool - our all duty is to sell and to make sure we are paid in time. - top priority: money must be with us on due date! There are following two categories which can be applied:
|Atradius credit insurance||Other securities|
|Payment terms according
to Atradius insurance policy
Our 'General terms of sale' - para 15 stipulates: "The place of the execution of contract for buyer is always Emmenbrücke."
This means that customers obligation to pay for the goods which we sent the place and the date of execution is Emmenbrücke - or in other words:
The payment must be in our hands on the due date.
and not that the payment must be effected on the due date by the customer at his place! Delay interest is always EURO + 3 %; currently 6 + 3 % = 9 % p.a. It is calculated from the due date.
These facts are described by the Swiss law of obligations, article 74 (which forms an integral part of all our business concluded). The same is internationally valid and is ruled by the rules of conciliation and arbitration of the International Chamber of Commerce (Paris).