C1. Eligibility

Credit facilities are available exclusively to registered agrovet and veterinary trade partners of Farm Alert Limited (“Farm Alert”) who have completed this KYC form and received written approval from the Sales Manager. A vendor must have maintained an active trading relationship with Farm Alert for a minimum of three (3) calendar months before applying for credit. Farm Alert reserves the right to approve, decline, or limit any credit application at its sole discretion.

C2. Upfront Payment

A mandatory upfront payment of thirty percent (30%) of the total invoice value must be made by the vendor at the point of placing a credit order. No goods shall be released until this payment is confirmed. The upfront payment requirement does not apply to supermarkets and institutional retail accounts; approved supermarkets may pay the full invoice balance within the agreed repayment period, subject to Sales Manager approval and satisfactory KYC verification. The upfront payment is non-refundable once goods have been dispatched.

C3. Balance Payment & Repayment Period

The outstanding balance of seventy percent (70%) of the invoice value shall be due within the repayment period agreed and signed off by the Sales Manager: either two (2) weeks or four (4) weeks from the date of invoice. The agreed repayment period must be clearly indicated in Section D of this form. Verbal agreements on repayment extension are not binding; any changes must be documented in writing and signed by the Sales Manager.

C4. Credit Limit

The credit limit granted to each vendor shall be determined by the Sales Manager based on the vendor’s purchase history, payment record, and business capacity as assessed during the KYC review. Farm Alert may revise the credit limit upward or downward at any time, with notice to the vendor. A vendor may not place a new credit order if an existing credit balance remains outstanding and unpaid.

C5. Late Payment & Penalty

If the balance payment is not received by the agreed due date, Farm Alert reserves the right to place the vendor’s account on hold immediately. A late payment fee of two percent (2%) of the outstanding balance per week shall be applied to all overdue amounts, commencing from the day after the due date. Farm Alert shall notify the vendor of any overdue balance by phone, SMS, or written notice; it is the vendor’s responsibility to respond within forty-eight (48) hours.

C6. Authorised Payment Channels — Do Not Pay Into Any Personal Account

All payments to Farm Alert Limited MUST be remitted exclusively to a designated Farm Alert company bank account under the name “Farm Alert Limited”, no exceptions. Under no circumstances should any vendor, customer, or partner pay into the personal account of any staff member, sales representative, agent, or individual, regardless of any verbal, phone, or text instruction. Farm Alert will never request payment to a personal account; anyone who does so is acting without authorisation. Report any such request immediately to Head Office: +234 (0) 704-441-6659 or support@farmalert.com.ng. Farm Alert shall not be liable for payments made into an unauthorised personal account, and any staff soliciting such payment faces immediate disciplinary action and prosecution.

C7. Consequences of Non-Compliance

First offence, suspension (2 months): a vendor who fails to settle the balance within the agreed period shall have credit suspended for two (2) calendar months, transacting on a cash-and-carry basis only. All outstanding balances and fees must be cleared before reinstatement.

Second offence, extended suspension (6 months): credit facility suspended for six (6) calendar months; Farm Alert shall conduct a full credit review before any reinstatement, requiring a consistent record of timely cash payments.

Persistent default, termination & legal action: Farm Alert may permanently withdraw the credit facility, refer the debt to its legal and debt recovery team, report the vendor to relevant trade and regulatory bodies, and share flagged account details within its partner network.

C8. Goods Return Policy

Goods sold on credit may not be returned solely to extinguish a credit obligation; returns are subject to Farm Alert’s standard returns policy. Where a return is approved, the credit value of returned goods shall be applied to reduce the outstanding balance, not refunded in cash.

C9. Confidentiality

All information provided in this form is confidential and shall be used solely for credit assessment and account management. Farm Alert reserves the right to verify any information provided and to share vendor payment records within its internal sales and finance teams.

C10. Governing Law

This agreement is governed by the laws of the Federal Republic of Nigeria. Any dispute shall first be resolved through direct negotiation between the parties; where resolution fails, disputes shall be referred to a mutually agreed mediator or competent court of jurisdiction.

C11. Amendments

Farm Alert reserves the right to amend these terms and conditions at any time. Vendors will be notified of material changes; continued use of the credit facility after notification constitutes acceptance of the revised terms.