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Another example (this one from real life): "Standard payment terms are net 30 days - all payments are due 30 days from the date of invoice.You will be invoiced when the last item on your order is shipped." From "Terms and Conditions" page: you accept a Net 30 Days settlement this means that you must pay the net due within 30 days of the receipt of goods or receipt of the invoice, according to the settlement. "Net 30 Days: Payment of entire invoice amount is required within 30 days from invoice date or receipt of goods, whichever is later." From "Directives and Procedures - University Controller's Office - Finance and Accounting - UF: Definitions Of Frequently Used Purchasing Terms - Payment Terms ": The definition for this type of payment method is simple.In some countries and some branches, it is also common for the invoice to specify: a 2% or 3% discount for payments within (e.g.)10 days, net within 30 days, and then with an interest rate added on for later payment.Important Disclaimer: Answers and comments provided on Google Answers are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice.
An interest charge of 1.5% per month may be added to all past due accounts..." some incentives for "in term" payments can be added to the agreement, see the following example: "AIA Wisconsin | General Conditions & Contract - Account Terms": "Net 30 days.2 March 1993: strategy- at I used the following keywords: "NET 30 DAYS" payment "NET 30 DAYS" glossary payment I hope that this helps you to understand this concept.Feel free to request for a clarification if you need more asistance regarding this question. What I found for you are mostly credit application forms, regarding them you must note that: "The credit application should also be tailored such that it becomes an agreement with respect to the credit terms upon approval.Google does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments.
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Example: Normal terms are Net 30 Days from date of bill.