Enrolling in a payment plan can affect your ability to order and your 60-day payment terms.
Can I continue to order while in a payment plan?
-
If you pay the payment plan according to schedule and pay all other invoices on time, you can continue to order on Faire.
-
Late or missed payments may trigger a block on your ability to checkout.
How do 60-day payment terms work with a payment plan?
- If applicable, your available payment terms will be reduced by the total outstanding amount enrolled in all payment plans.
- As you make weekly payments, the principal installment total will be added back to your available terms.
- Late payments within the plan may result in a reduction or full removal of your terms.
Ex: You have a total 60-day payment terms limit of $3,000. You enroll $1,200 in a 12-week payment plan, and you currently have no other invoices on 60-day terms.
- The principal amount for each of the 12 installments will be $100. At the start of your payment plan, your remaining 60-day payment terms limit will be $1,800.
- Then, with each passing week, as you make your $100 weekly payments, your available credit will increase by that amount.