How Do Net 60 Terms Work?
Net 60 payment terms is a payment option that allows you to buy inventory now, and pay for it 60 days later. We offer net 60 terms so retailers can buy the optimal amount of inventory for their store, while improving their cash flow. When a retailer checks out with a brand on JOOR Pay, they will see the application for net terms in the checkout.
It is a one time application to qualify with zero fees, zero interest, and no cost to apply.
Applying will not affect credit rating. Once approved, retailers can use net terms to pay with any JOOR Pay brand on the platform. It takes less than 10 minutes to apply and the application is automatically decided in minutes. Retailers may qualify for up to $100,000 in net terms. Just follow these simple steps once in the checkout:
- Click the link to Apply Now for TreviPay net terms
- Have your primary business owner complete the application
- You will need the following information:
- Business tax ID, legal and ownership structure
- Business address and contact information
- Majority owner’s name, address, contact, SS# and ownership %
It’s that easy! If the retailer is approved, they will receive an email to activate their account, with an additional welcome email upon completion. Once their TreviPay account is activated, they will be able to pay their invoice using their purchasing account
When the retailer pays off the net terms at day 60, that amount is returned to their available balance and they can continue to place more orders using this buy now, pay later structure with any brand enrolled in JOOR Pay.
How can I increase my net 60 terms?
Credit limit increase requests require that your account be in good standing for a minimum of six months, demonstrating positive payment history. Your credit limit increase requests may be submitted by visiting the TreviPay overview landing page. You will receive notification by email of the outcome of your request.
How do I review credit balances and invoices?
Your current available balance, outstanding amount due and past invoices will be available on the Account Overview page of your TreviPay account portal.
How will I know when my payment is due?
You will receive a downloadable invoice in your TreviPay account portal and by email immediately after you use your net terms to pay for an order. The TreviPay invoice will contain the payment due date. To direct these alerts to your accounts payable department, create a new Payer user account for that team and activate invoice alerts in the Notifications tab of the Edit User page.
How do I make a payment into my TreviPay Account?
You or your designated account user can make payments to TreviPay through one of the following payment methods: direct debit in your buyer portal, by bank transfer payment or by check. For convenience, you may link your business bank account to make payments easily. All available payment methods will also be outlined on each invoice you receive.
How will my payments be applied to the outstanding invoices?
If you currently have more than one invoice open on your account, TreviPay will apply payments based on the remittance advice you provide. If no remittance advice is submitted, they will apply payments to the oldest invoices first so that you are not considered late on older invoices.