Act as Principal
In all the Purchasing transactions Fram Farmers are principlal.
The guarantee to pay by the due date, strengthens our negotiating position.
Each Member is allocated a unique code for their farm business account. Members can have more than one account with the co-operative if this assists with the farm administration e.g. electicity account covering several sites. In order to maintain complete transparency a copy of the original invoice received from the Supplier is passed onto the Member.
Each Member will receive a statement at least once a month but have the option for an interim statement, if this assists with the farm administration.
Every statement contains all the transactions booked through the co-operative for the previous month. This is normally sent out around the 15th of every month.
As farming businesses continue to consolidate, the ability to run multiple, linked accounts with Fram Farmers, saves a huge amount of administration time but also demonstrates the land owner clearly still ‘farms’ on his account.
One Direct Debit per month
Before any Direct Debit is taken the Member will always have at least seven working days to check their statement. Any queries can be raised with the office during that time and if necessary an invoice can be put into dispute. The direct debit is always taken at the latest possible date within each month.
All direct debits taken by Fram Farmers are covered by the Direct Debit Guarantee scheme.
Grain payment by BACS
All payments made to Members by our Grain Marketing Department are paid by BACS within 28 days of movement.