The Credit Service is a clearing house for primary Wholesalers, buyers and other related businesses operating in the Brisbane Produce Market (BPM). It was established in 1973 and is widely recognised and respected within the industry.

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

Following each day’s trade, invoices are sent to the Credit Service by the biller, this is provided electronically through Brismark online  or sorted for collection at the Credit Service. 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. Payment to the Credit Service is required on a Wednesday. 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 primary Wholesalers and other billers.

To be eligible to join the Credit Service each business must go through a credit check using credit rating standards, therefore mitigating the risk of bad debt.

If you would like to speak to someone about joining the Credit Service, come and see our friendly staff who are located on the ground floor of the Fresh Centre, Brisbane Markets, 385 Sherwood Road, Rocklea or email [email protected] or telephone 07 3915 4280.

 

Benefits of using the Credit Service

There a number of benefits for using the Credit Service for Members (BPM primary Wholesalers) as well as buyers.

Benefits for Brismark Billers

  • Payment terms of 7 to 14 days with on time payment rates of around 98% (compared with an industry average of 56 days) resulting in savings in cost of working capital.
  • High credit rating standards which is continually reviewed. If a buyer is approved through the Credit Service, you can be assured they meet the stringent credit standards.
  • Above average success rate on chasing delinquent buyers, relieving your staff of the time, effort and money involved in chasing bad debtors.
  • Highly qualified, specialist legal support. In the event that legal action is required, you have peace of mind that a top notch legal team is available to you including financial relief from legal costs and solicitors fees.
  • Results driven External Debt Collectors. Let someone else worry about chasing overdue accounts.
  • Positive cash flow. Allow the Credit Service to process your buyer’s payments to ensure your accounts receivable are paid on time.
  • Access to Debt Recovery Solutions.
  • Access to fuel cards.
  • Access to Brismark online.

Extra Benefits for Brismark Members:

  • Industry leading coverage through the Bad Debt Reserve. If a non-Credit Service buyer’s business fails owing you money, you face a 100 per cent loss. If the buyer is a Credit Service buyer, the Bad Debt Reserve will pay up to 90 per cent of the value of the debt, usually in the same calendar year.
  • Access to the Brismark Investment Service, offering competitive term deposits or high interest at call investment accounts.
  • Access to Brismark Business Services at favourable rates.

Benefits for buyers

  • One consolidated account summary requiring a single payment each week.
  • Credit available (maximum credit limits apply) allowing buyers to purchase with all the Members and approved billing entities.
  • No carrying large quantities of cash or multiple cheques to pay for purchases
  • Simplified buying—select, load and go.
  • Same day online invoice retrieval saving hours of work each week.
  • Online advice solving any pricing or ordering discrepancies with proof of having provided the claim.
  • Financial advice available during difficult times.
  • End of financial year Market expenditure summary—simplifying end of financial year tax preparation.
  • Access to other Brismark Business Services — education and training, quality assurance and recruitment to name a few.
  • Access to Brismark’s Retailer Program.
  • Access to Debt Recovery Solutions.
  • Access to fuel cards.
  • Access to Brismark Online.

 

If you would like to speak to someone about joining the Credit Service, come and see our friendly staff who are located on the ground floor of the Fresh Centre, Brisbane Markets, 385 Sherwood Road, Rocklea or email [email protected] or telephone 07 3915 4280.

Contact the Credit Service

The Credit Service is located on the ground floor of the Fresh Centre, Brisbane Markets, and is open from 5.30am – 2.00pm, Monday to Friday.

Phone: 07 3915 4280 or email [email protected]

 

Brismark members who access Brismark online receive the following benefits:

  • Save on the cost of printing invoices.
  • Provide better service to customers by facilitating the electronic provision of invoices to buyers on the day of purchase.
  • Allows buyers to use the website to send Adjustment Requests promptly, securely and within a full audit trail.
  • Assist in generating cost savings by reducing data entry and filing costs for the Credit Service and the wholesaler.

Learn more about becoming a Brismark Online member here.

 

To find out more about conducting business within the Brisbane Produce Market and joining the Credit Service watch the ‘Trading in the Markets’ presentation.