1. About these terms
1.1 These terms apply to every customer that holds a credit account with Niru Food Stuff Trading L.L.C ("Niru"). In these terms, "you" means the customer business.
1.2 They form part of your Credit Account Application. Together with the application, your Credit Approval and Niru's Terms of Sale at www.niru.ae/terms-and-conditions-sale-invoices, they make up your credit agreement with Niru.
1.3 If these terms conflict with the Terms of Sale, these terms apply to your credit account. A written agreement signed by Niru's authorised signatory and you overrides both.
1.4 Terms printed on your purchase orders (LPOs) or other documents do not apply, even if Niru accepts or delivers the order.
2. Applying for credit
2.1 Your application is a request for credit. Niru may approve it, approve a lower limit or shorter terms, or decline it.
2.2 Credit starts only when Niru issues your Credit Approval, which Niru emails to the accounts contact in your application. The first order you place after receiving it confirms that you accept the approved limit and terms.
2.3 You authorise Niru to check the information in your application. This includes calling your contacts and supplier references, and contacting your bank.
2.4 If any information in your application is false or misleading, Niru may cancel your credit immediately.
3. Payment terms
3.1 Niru issues a statement of account at the end of each month, covering that month's invoices.
3.2 You must pay the full statement balance within the approved number of days from the statement date. 30 days is Niru's standard term. 45 and 60 days are granted only by exception, to customers with a strong credit assessment. Based on its assessment, Niru will tell you which additional documents it needs before approving them.
3.3 Payment counts as made only when cleared funds reach Niru's account.
3.4 You must pay every invoice in full. You may not deduct rebates, listing fees, returns, shortages or any other amount unless Niru has issued a credit note for it or agreed it in a signed agreement.
3.5 Discounts and rebates apply only to invoices paid in full by their due date. If an invoice is paid late, Niru may withdraw any discount or rebate linked to it.
3.6 Any dispute about a statement or invoice must reach Niru in writing within 7 days of the statement date. Otherwise the statement is accepted as correct. A dispute over one invoice does not delay payment of the others.
4. Credit limit
4.1 Your total unpaid balance must not exceed your approved credit limit.
4.2 Niru may hold any order that would take you over your limit until a payment is received.
5. Late payment
5.1 If any amount is not paid by its due date, Niru may, without further notice:
- stop or hold deliveries;
- reduce or cancel your credit and move your account to cash on delivery;
- declare your full balance immediately due, including invoices not yet due; and
- withdraw any discount or rebate linked to the overdue invoices.
5.2 If Niru takes legal action to collect any amount you owe, or uses a lawyer or collection agency to do so, all legal, court, administrative, finance and collection charges are added to your balance, and you must pay them.
5.3 If your bank returns any cheque unpaid, for any reason, Niru adds an administrative charge of AED 500 to your balance for each returned cheque, plus any charges Niru’s bank makes.
6. Security cheque
6.1 A security cheque is required from sole establishments, and from any customer whose Credit Approval makes it a condition.
6.2 The cheque must be payable to "Niru Food Stuff Trading L.L.C", drawn on your business's own account, signed by an authorised signatory, for the amount of your credit limit, with the date left blank.
6.3 You irrevocably authorise Niru to fill in the date on the cheque and present it if any amount remains unpaid 15 days after its due date, after notifying you by email. Any amount Niru collects above what you owe is applied to your account or refunded to you.
6.4 If your credit limit changes, you will replace the cheque within 7 days of Niru's request.
6.5 Niru returns the cheque when your account is closed and fully paid.
7. Cheque signatories
7.1 You must give Niru the specimen signature of everyone who signs your business's cheques. Niru checks the cheques it receives against these signatures.
7.2 You must tell Niru in writing before any change to your cheque signatories, and give the new specimen signatures.
8. Personal guarantee
8.1 An owner or the majority partner of your business signs the application personally, as guarantor. The guarantor must hold a valid UAE residence visa.
8.2 The guarantor personally guarantees payment of every amount your business owes Niru, now or in future, including legal, court, administrative, finance and collection charges, and returned cheque charges.
8.3 The guarantor's liability is joint and several with your business. Niru may claim from the guarantor directly, without first claiming from the business.
8.4 This is a continuing guarantee. It stays in force if your business closes, is liquidated or dissolved, changes owner, or changes its credit limit or terms, and if the guarantor's role in the business changes. It ends only when your account is closed, every amount is paid, and Niru confirms the release in writing.
8.5 The guarantor must tell Niru in writing before leaving the UAE permanently or cancelling their UAE residence visa.
9. Credit reports
9.1 By signing the application, your business gives its express written consent for Niru to obtain and review its commercial credit report and credit score from Al Etihad Credit Bureau (AECB). The guarantor gives the same consent for their individual credit report.
9.2 Niru may obtain these reports when assessing your application and at any time while you hold an account with Niru or owe Niru any amount. This consent is given under Federal Law No. 6 of 2010 on Credit Information.
9.3 Niru uses these reports only to assess, review and monitor your credit with Niru, and keeps them confidential.
10. Ownership of goods
10.1 Goods remain Niru's property until they are paid for in full. If you fail to pay, Niru may recover unsold goods from your premises.
11. Changes to your business
11.1 You must tell Niru in writing at least 14 days before any change in ownership, legal form, trade licence, address, authorised signatories or cheque signatories.
11.2 You and the guarantor remain liable for all amounts owed before and after the change.
12. Review, suspension and closing
12.1 Niru may review, reduce, suspend or cancel your credit at any time by written notice.
12.2 You may close your credit account by written notice to accounts@niru.ae. Your full balance becomes due on closing.
13. Notices and evidence
13.1 Notices may be sent by email. Notices to Niru go to accounts@niru.ae. Notices to you go to the email addresses in your application, or any new address you give Niru in writing.
13.2 A statement of account issued by Niru is conclusive evidence of the amount you owe, unless it contains a clear error.
14. Changes to these terms
14.1 Niru may update these terms by publishing a new version on this page. A new version applies to orders placed after it is published. The version in force when you signed your application continues to apply to the guarantee and the security cheque you gave, unless the guarantor agrees otherwise in writing.
15. Language, law and courts
15.1 These terms are written in English. If an Arabic translation is needed, the English text governs between the parties, as far as UAE law allows.
15.2 These terms are governed by the laws of the United Arab Emirates as applied in the Emirate of Dubai. The courts of Dubai have jurisdiction.