1. Introduction and Scope
1.1 Purpose. This Net Terms Policy (“Policy”) governs the payment terms that Ryden (“we,” “us,” or “Ryden”) applies to wholesale buyers (“Buyer” or “you”), including when Ryden may extend credit, for orders placed through ryden.store/business or related wholesale channels.
1.2 Application. This Policy applies to all wholesale buyers approved to purchase from Ryden, including but not limited to bike shops, professional workshops, distributors, fleet operators, mobile mechanics, and online retailers.
1.3 Relationship to Other Policies. This Policy operates alongside Ryden’s Wholesale Terms of Service, Return and Defect Policy, Shipping and Freight Policy, Customs and Import Documentation Policy, Quality Testing Policy, and Privacy Policy. In the event of conflict, the Wholesale Terms of Service govern unless specified otherwise.
1.4 Modification. Ryden reserves the right to amend this Policy with thirty (30) days’ notice to active wholesale buyers. Material changes require buyer acknowledgment before continuing the wholesale relationship. Continued purchasing after the effective date of amendments constitutes acceptance.
2. Payment Terms Structure
2.1 New Accounts, Payment Upfront. Orders from new wholesale accounts require one hundred percent (100%) payment upfront before order processing. Payment is made by bank transfer to Ryden’s designated bank account in USD, or another currency agreed at quote stage. Funds must clear before order processing begins.
2.2 Established Accounts, Deposit and Balance. Once Ryden confirms in writing that an account is established, based on its order and payment history with Ryden, orders are paid as follows:
- A fifty percent (50%) deposit by bank transfer on Order Confirmation; and
- The remaining balance by bank transfer before shipping.
2.3 Net Terms, Only After a Track Record. Net payment terms are considered only after a buyer has built a track record of orders paid on time with Ryden. Net terms are confirmed per account, in writing, and may be granted or declined at Ryden’s reasonable discretion. When considering net terms, Ryden takes into account:
- The buyer’s order and on-time payment history with Ryden;
- A credit application including trade references and bank reference per Section 3 of this Policy;
- The length of the wholesale relationship with Ryden;
- Any other information Ryden reasonably requests to assess credit standing.
2.4 Net Term Options. Where net terms are granted, Ryden’s written confirmation states the terms that apply to the account, such as Net 30 (payment due thirty (30) days after invoice date) or Net 60 (payment due sixty (60) days after invoice date), together with the credit limit and any conditions. Longer terms are generally considered only for accounts with a longer record of on-time payment on shorter terms.
2.5 No Implied Credit Terms. Credit terms are not extended automatically. The absence of written confirmation of net terms means the buyer remains on the payment terms in Sections 2.1 and 2.2. Past order history does not create entitlement to future credit terms.
3. Credit Verification
3.1 Credit Application. Where Ryden considers net terms for an account, the buyer must submit a credit application providing:
- Trade References: Three (3) trade references from current suppliers, each providing contact details for the buyer’s current account manager, current account balance, payment history, and average days-to-pay.
- Bank Reference: A bank reference letter from the buyer’s primary commercial banking relationship confirming the business is in good standing, account length, and authorized signatory details.
- Repeat-Order History: Documented history of orders paid on time with Ryden, including order values and payment confirmation dates.
- Business Documentation: Valid business registration documentation, including business registration number, tax identification number, and current trading status. Documentation must match the entity placing orders.
3.2 Credit Verification Timeline. Ryden’s credit team reviews applications within ten (10) business days of complete submission. Incomplete applications are returned to the buyer with specific deficiencies identified.
3.3 Credit Verification Outcomes. Following review, Ryden will issue one of the following:
- Approval: Net 30 or Net 60 terms approved with specified credit limit. Approval includes credit limit value, payment terms (Net 30 or Net 60), and any specific conditions.
- Conditional Approval: Terms approved subject to specified conditions (e.g., reduced credit limit, additional reference checks, periodic re-verification).
- Denial: Application denied. Ryden provides general reasons for denial without disclosing specific third-party reference details. Buyer remains on the payment terms in Sections 2.1 and 2.2.
- Deferral: Application deferred pending additional information or relationship development.
3.4 Credit Limits. Where Net 30 or Net 60 terms are granted, Ryden establishes a credit limit representing the maximum outstanding invoice value at any time. Orders exceeding the credit limit require prepayment of the excess amount before order processing.
3.5 Periodic Re-verification. Ryden may require periodic re-verification of credit standing, typically annually for active wholesale accounts. Re-verification follows the same process as initial credit verification. Failure to provide re-verification documentation within thirty (30) days of request may result in suspension of credit terms.
3.6 Credit Insurance. If Ryden arranges trade credit insurance on a specific buyer account, Ryden may share that buyer’s credit information with the insurer solely for credit insurance purposes, and will tell the buyer before doing so. This sharing is described in the Privacy Policy.
4. Invoice and Payment Terms
4.1 Invoice Issuance. For buyers with net terms, invoices are issued at the point of shipment, with the invoice date being the date of shipment from the origin warehouse or factory.
4.2 Payment Due Date. Payment is due in full no later than the term confirmed for the account, for example:
- Net 30: Thirty (30) calendar days from invoice date.
- Net 60: Sixty (60) calendar days from invoice date.
4.3 Currency. Invoices are issued in United States Dollars (USD) unless otherwise agreed in writing. Payment must be made in the currency stated on the invoice. Currency conversion costs for payments in other currencies are the buyer’s responsibility.
4.4 Payment Methods. Net terms payments are made by bank transfer to Ryden’s designated bank account (banking details provided on invoice), unless another method is specifically agreed in writing for the buyer’s account.
4.5 Payment Confirmation. Buyers must provide payment confirmation (bank transfer confirmation) to Ryden’s accounts team within two (2) business days of payment initiation. Ryden acknowledges payment receipt upon confirmed funds clearance.
4.6 Application of Payments. Payments received are applied to outstanding invoices in chronological order (oldest invoices first) unless the buyer specifies otherwise in writing at the time of payment.
5. Late Payment
5.1 Late Payment Notification. Invoices unpaid by the payment due date are considered overdue. Ryden’s accounts team contacts the buyer within five (5) business days following the due date to confirm payment status.
5.2 Late Payment Interest. Overdue invoices accrue interest at a rate of one and one-half percent (1.5%) per month, calculated from the original payment due date until payment is received in cleared funds, or such lower rate as is the maximum permitted by applicable law.
5.3 Credit Term Suspension. Net 30 or Net 60 terms may be suspended for buyers with overdue invoices. Suspended buyers must clear all outstanding balances and may be required to revert to prepayment terms for new orders.
5.4 Order Holds. Ryden reserves the right to hold processing of new orders for buyers with overdue invoices until the outstanding balance is brought current.
5.5 Credit Term Withdrawal. Persistent late payment (defined as three or more late payments within a twelve-month period, or any single invoice unpaid for sixty (60) days beyond the original due date) may result in permanent withdrawal of credit terms. Withdrawn buyers return to the payment terms in Sections 2.1 and 2.2 and may ask Ryden to consider net terms again after rebuilding a track record of on-time payment.
5.6 Collection Costs. Where Ryden engages collection agencies or legal counsel to recover overdue invoices, the buyer agrees to reimburse Ryden’s reasonable collection costs, including third-party collection agency fees and legal fees, in addition to the principal invoice amount and accrued interest.
6. Purchase Orders and Order Confirmation
6.1 Quote-Based Pricing. Wholesale pricing is established at quote stage. Quotes are valid for thirty (30) calendar days from issuance unless otherwise specified. Pricing on confirmed orders is locked at the quote price.
6.2 Order Confirmation. Ryden issues an Order Confirmation upon receipt of:
- Buyer’s purchase order matching the agreed quote terms, AND
- For new accounts: confirmation of the 100% upfront payment under Section 2.1; OR
- For established accounts: confirmation of the 50% deposit under Section 2.2; OR
- For accounts with net terms confirmed in writing: written order authorization referencing the buyer’s account.
6.3 Order Acceptance. Ryden’s issuance of the Order Confirmation constitutes acceptance of the buyer’s purchase order. Order processing begins upon confirmation.
6.4 Order Cancellation. Order cancellation terms are governed by Section 4 of the Wholesale Terms of Service. Net terms buyers remain liable for invoices issued for shipments that have been dispatched, even where the buyer cancels the underlying order after shipment.
7. Credit Limit Management
7.1 Credit Limit Calculation. A buyer’s outstanding credit exposure at any time consists of:
- Invoiced amounts not yet paid (within the Net 30 or Net 60 payment window);
- Shipped but not yet invoiced amounts;
- Orders in production for private label or custom branding where production resources have been committed.
7.2 Credit Limit Increase Requests. Buyers may request credit limit increases by:
- Submitting updated trade references and bank reference;
- Demonstrating consistent payment performance over a minimum six (6) month period at the existing credit limit;
- Providing business justification for the increase (anticipated order volume, market expansion, etc.).
7.3 Credit Limit Decrease. Ryden reserves the right to decrease a buyer’s credit limit based on:
- Deterioration of buyer’s payment performance;
- Material changes in buyer’s business circumstances;
- General economic conditions affecting buyer’s market;
- Ryden’s risk management considerations.
Credit limit decreases are communicated with thirty (30) days’ notice where practicable.
8. Relationship Termination
8.1 Voluntary Termination. Either Ryden or the buyer may terminate the wholesale relationship with thirty (30) days’ written notice. Termination does not affect obligations under outstanding invoices.
8.2 Termination by Ryden for Cause. Ryden may terminate the wholesale relationship immediately for:
- Material breach of this Policy or related policies;
- Buyer’s insolvency, bankruptcy, or business cessation;
- Material misrepresentation in credit application or order documentation;
- Other circumstances constituting good cause as determined by Ryden.
8.3 Post-Termination Obligations. Following termination:
- All outstanding invoices become immediately due and payable;
- Credit terms are withdrawn; remaining shipments require prepayment;
- Confidentiality obligations under the Wholesale Terms of Service continue;
- Outstanding orders not yet shipped may be cancelled or shipped at Ryden’s election.
9. Governing Law and Dispute Resolution
9.1 Governing Law. This Policy is governed by the laws of Pakistan, without regard to conflict of law principles.
9.2 Courts. Any dispute arising from or relating to this Policy that cannot be resolved through good-faith negotiation between the parties shall be subject to the jurisdiction of the courts of Pakistan.
9.3 Jurisdiction for Provisional Remedies. Notwithstanding Section 9.2, Ryden may seek provisional or interim remedies (including but not limited to injunctive relief) in any court of competent jurisdiction.
9.4 Limitation Period. Claims arising under this Policy must be brought within two (2) years of the date the claim arose, or such longer period as may be required by applicable mandatory law.
10. Contact and Communications
10.1 Net Terms Inquiries. Net terms applications and credit-related inquiries:
Ryden Wholesale Accounts
Email: contact@ryden.store
WhatsApp: +1 (928) 259-9732
10.2 Payment Inquiries. Payment processing and invoice inquiries:
Ryden Accounts Receivable
Email: contact@ryden.store
WhatsApp: +1 (928) 259-9732
10.3 Banking Details. Banking details for bank transfers are provided on invoices. Before making any bank transfer, buyers must confirm the banking details with Ryden through a second channel, such as a WhatsApp message to +1 (928) 259-9732 in addition to email. Email-only verification is insufficient due to payment fraud risk.
Next steps
New to Ryden Wholesale? Apply for a wholesale account and place your first order, paid 100% upfront by bank transfer. Net terms are considered only after a track record of on-time payment, and are confirmed per account.
Built a payment track record and want to ask about net terms? Contact contact@ryden.store with your trade references, bank reference letter, and a summary of your repeat-order history with us.