Credit Service

Brismark is widely recognised and respected within the industry for its Credit Service, which was established in 1973. The Credit Service contributes to the stable and orderly marketing of produce through the Brisbane Markets, and therefore to the success of those associated with the Brisbane Markets.

The Credit Service is a clearing house for wholesalers, buyers and other related businesses operating in the Brisbane Produce Market.  

The operations of the Credit Service benefit all sections of the fruit and vegetable industry. The security that it provides to member wholesalers indirectly protects the growers who supply the Brisbane Markets. Its operation provides a discipline that contributes to the success of independent grocers. The cost savings and services it provides are shared with buyers. It truly serves the whole industry. 

How it works

Using the Brismark Credit Service is easy. All Credit Service users are given a unique buying or selling code to identify them at the time of any transaction inside the Market.

Following each day's trade invoices are sent to the Credit Service for sorting and collection. At the end of each week buyer's statements are sent to the Credit Service and the information is consolidated onto a single billing statement for each buyer. Credit Service staff follow up buyers to ensure that payments are received on time. The payments received from buyers are subsequently distributed to the relevant wholesalers.

Benefits

Wholesalers using the Brismark Credit Service receive outstanding savings in money as well as administration time.

The benefits of using and encouraging buyers to use the Credit Service are:

• Payment terms of 7 to 14 days with on time payment rates of around 96% (compared with an industry average of 56 days) resulting in savings in cost of capital.
• An extremely low bad debt rate of 0.000012% over a two year period. To put that in perspective, businesses in the general community that can sustain a 1% bad debt rate are considered to be performing extremely well. In addition, a Bad Debt Reserve of over $3 million guarantees up to 90% of each debt.
• A sophisticated credit risk evaluation for Credit Service buyers.
• All overdue payments are followed up by Credit Service staff which saves your staff time and worry.

Credit Service Online

Wholesalers can connect electronically to the Credit Service over a secure link.

Wholesalers are encouraged to connect online because:

• They can save on the cost of printing invoices.
• They can provide better service to their customers by facilitating the electronic provision of invoices to buyers on the day of purchase.
• They allow buyers to use the Online website to send Adjustment Requests promptly, securely and within a full audit trail.
• They can assist in generating cost savings by reducing data entry and filing costs for the Credit Service and the wholesaler.
• They can enjoy the full benefits of the Pallet Reporting system.

 To find out more about the Brismark Credit Service just call in and speak to our friendly staff at the Brismark office, situated inThe Fresh Centre, Brisbane Markets, Sherwood Road, Rocklea Qld 4106 or contact Brismark's Credit Service Office on telephone 07 3915 4222.

To access your information on-line contact Brismark's Information Systems Manager or telephone 07 3915 4222.