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Terms & Conditions
GEOMATHEQUE’S REVENUE MANAGEMENT

1. Objectives

The setting up of this policy will contribute to efficient revenue management and work process, to transparency in GEOMATHEQUE’s financial operations and to the impartial treatement of customers’ requests.

2. Goals

  • Guarantee a better customer account management through the application of standard norms in customer account approval;
  • Guarantee a better follow-up of customer’s credit line activities so as to determine the relevance of maintaining the account open;
  • Guarantee GEOMATHEQUE an efficient delinquent customer account collection policy.
3. Basic Principles

On the Web, GEOMATHEQUE requires a full payment by credit card, unless the customer has an open account. In store, GEOMATHEQUE requires a full payment (cash, credit card, debit) for all transactions, unless the customer has an open account. All revenue, identified or not, has to be deposited in is entirety, upon reception, according the its relative importance.

4. Credit line request

At the customer’s express request, GEOMATHEQUE’s consultant will forward a « Credit Line Application Form » to the customer. This form includes the following notions: terms of payment, applicable charges for dishonoured payment and interest charges for overdue account. GEOMATHEQUE’s supervisor makes sure that all the necessary information for determining the relevance of the credit line request is available, otherwise contacts the requesting customer to obtain the missing details.

The request’s relevance is determined according to the following elements:
  • the total purchases’ value for the last 12 months;
  • planned purchases’ value for the next 12 months;
  • the applicant or a related company, has not been in payment default during the last 5 years.
The credit line is approved with a limit determined according to the specified annual purchase amount. GEOMATHEQUE’s supervisor informs the customer of the decision concerning the credit line.

Customer credit line activity analysis

Periodically (at least once a year), an analysis of the activities generated by each open account (credit line) is performed by the accounts payable supervisor in order to determine the relevance of the credit line itself and/or its limit. In the case of insuffisant activities in an open account, the customer will receive, from the supervisor, a written notice of the credit line cancellation. The customer can offer an explanation for the value of purchases.

5. Payment

  • Unless specified otherwise, the payment terms for all purchases at GEOMATHEQUE are net 30 days, starting on the date of the invoice;
  • In the case of non-respect of payment terms, GEOMATHEQUE considers that any payment received will pay the account receivables in the following order: interest charges for past-due, applicable charges for dishonoured payment, the past-due invoice according to the age of the account and, finally, the current statement invoices.
>6. Overdue account and interest charges

  • GEOMATHEQUE applies, to all overdue account, cumulative interest charges starting on the date of the invoice;
  • GEOMATHEQUE applies charges as by Article 12.2 of the ministère du Revenu’s law enacted for any dishonoured check by the institution from which it was drawn;
  • Furthermore, collection measures will be taken in accordance with the degree of delinquency. These progressive measures range from notice to lawsuit.
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