Credit Policy

1. Purpose

Vyas Ayurvedic Stores provides credit facilities to eligible retailers, dealers, and customers based on their sales volume, payment history, and business relationship with the company. This Credit Policy is intended to establish clear terms for availing and maintaining credit facilities.

2. Credit Period

Credit facilities may be offered to eligible customers for the following periods, depending on their sales volume, business relationship, and payment performance:

• 7 Days Credit: For customers qualifying for the standard short-term credit facility.
• 15 Days Credit: For customers with higher sales volume and/or a satisfactory payment history, as determined by Vyas Ayurvedic Stores.

The applicable credit period will be communicated or agreed upon at the time of extending the credit facility.

3. Credit Limit and Eligibility

The credit limit and credit period offered to each customer may be determined based on:

• Previous purchase and sales volume.
• Regularity and timeliness of payments.
• Existing outstanding balance.
• Length and nature of the business relationship.
• Overall creditworthiness of the customer.

Vyas Ayurvedic Stores reserves the right to revise, reduce, suspend, or withdraw the credit facility based on the customer's payment history or other relevant circumstances.

4. Payment Due Date

All credit invoices must be paid in full within the applicable 7-day or 15-day credit period from the invoice date, or as otherwise specifically agreed in writing.

Customers are responsible for ensuring that payments reach Vyas Ayurvedic Stores on or before the applicable due date.

5. No New Orders Against Overdue Payments

If any previous invoice or credit payment has become due and remains unpaid, no new credit order will be processed or created until the overdue amount has been cleared, unless specifically approved by Vyas Ayurvedic Stores management.

Orders may also be placed on hold if the customer's outstanding balance exceeds the approved credit limit.

6. Benefits of Timely Payments

Customers who consistently make payments on or before their due dates may become eligible for improved credit facilities, subject to the company's internal assessment.

A good payment record may help customers qualify for:

• Higher credit limits.
• Longer or more flexible credit facilities, where approved.
• Continued priority in credit-based order processing.
• Other benefits as may be determined by Vyas Ayurvedic Stores.

Timely payment is therefore an important factor in maintaining and improving the customer's credit facility.

7. Delay in Payment and Interest Charges

In case of delayed payment, Vyas Ayurvedic Stores reserves the right to levy interest or late-payment charges on the overdue amount, as applicable and as communicated/agreed with the customer.

The applicable interest or late-payment charges may depend on the duration of the delay and the terms agreed between Vyas Ayurvedic Stores and the customer.

8. Default

A customer may be considered in default if the customer:

• Fails to clear outstanding dues within the agreed credit period.
• Repeatedly delays payments.
• Fails to comply with agreed payment commitments.
• Exceeds the approved credit limit without authorization.
• Fails to clear overdue amounts despite reminders or payment requests.

In the event of default, Vyas Ayurvedic Stores may, at its discretion:

• Suspend or withdraw the credit facility.
• Stop processing further credit orders.
• Require payment in advance for future orders.
• Recover applicable interest or late-payment charges.
• Initiate appropriate recovery and legal proceedings for outstanding amounts.

9. Legal Action and Jurisdiction

In the event of payment default, non-payment of outstanding dues, or any dispute arising from the credit facility, Vyas Ayurvedic Stores reserves the right to take appropriate legal action for recovery of its outstanding amounts.

All such legal proceedings shall be subject to the jurisdiction of the competent courts at Vapi, Gujarat, to the extent permitted under applicable law.

10. Policy Modification

Vyas Ayurvedic Stores reserves the right to modify, amend, suspend, or withdraw this Credit Policy, including credit limits and payment terms, based on business requirements, customer payment performance, or applicable laws and regulations.

Any such changes may be communicated to the concerned customers as applicable.