Effective from 1st June 2025, this credit policy outlines the procedures and terms for offering and managing credit sales to our customers. Mistirhat Bangladesh aims to maintain a healthy cash flow, reduce credit risks, and build long-term partnerships with reliable customers, especially in the sweets distribution sector. This policy is applicable to all retail outlets, wholesale buyers, and distributors engaged with our products and services.
Credit facilities will be extended primarily to customers who have maintained a consistent purchase relationship with Mistirhat for at least 30 days. New customers will be required to purchase on a cash basis initially, with eligibility for credit consideration only after demonstrating regular transactions and trustworthiness. Retailers who qualify may be offered a credit limit of up to BDT 5,000 with a payment period of seven (7) days, while wholesalers or distributors may receive a credit limit of up to BDT 25,000 with a payment period of fifteen (15) days. All payments must be settled via cash, mobile banking (e.g., bKash), or bank transfers. These credit limits and periods may be reviewed and adjusted quarterly based on transaction history, payment punctuality, and overall business performance.
To obtain credit, a customer must complete a Credit Application Form and provide proper KYC documentation including a valid NID, trade license, and shop details. Approval for credit up to BDT 5,000 can be granted by the Sales Representative in conjunction with the Accounts Officer. Credit requests exceeding this amount will require written approval from senior management. Once approved, invoices must be issued immediately after delivery, and records must be maintained in both soft and hard copies. The accounts team will monitor payments and send reminders at least 48 hours before the due date. Follow-up procedures will begin immediately after the due date.
Mistirhat Bangladesh allows a grace period of two (2) days beyond the due date. After this period, a late payment charge of two percent (2%) per week will be applied to the outstanding amount. Customers with overdue payments beyond ten (10) days will be temporarily suspended from receiving further credit. If dues are not cleared within thirty (30) days, Mistirhat reserves the right to take legal action and terminate the supply relationship permanently.
All customer credit records will be maintained separately and updated on a daily basis by the accounts department. Weekly reviews will be conducted to ensure compliance with this policy. Any exceptions to this policy must be approved in writing by the Founder & CEO. This credit policy is subject to periodic review every six months or as necessary, depending on market trends and company performance.