Payment Terms

CWO	Cash with Order
CIA	Cash in Advance
CBS	Cash before Shipment
COD	Cash on Delivery
Upon Receipt	Payment due Immediately Upon Delivery of Invoice
EOM	End of Month. Payment is due at the end of the month of the invoice
Net Monthly Account	Payment is due at the end of the month following the month of the invoice
30 days End of Month	Payment is due at the end of the month following the month of the invoice
60 days End of Month	Payment is due at the end of the month following the month of the invoice
Net 7 or 7 Days	Payment of the net amount outstanding on the invoice is due seven calendar days after the date of the invoice
Net 14 or 14 Days	Payment of the net amount outstanding on the invoice is due fourteen calendar days after the date of the invoice
Net 15	Payment of the net amount outstanding on the invoice is due fifteen calendar days after the date of the invoice
Net 30	Payment of the net amount outstanding on the invoice is due thirty calendar days after the date of the invoice
Net 60	Payment of the net amount outstanding on the invoice is due sixty calendar days after the date of the invoice
2% 10 Net 30	Payment of the invoice is due within thirty calendar days but payments within 10 days can take a discount of 2%
21 MFI	The 21st of the month following the invoice month
CND	Cash Next Delivery
1MD	Monthly credit payment of a full month’s supply
2MD	Monthly credit payment of a full month’s supply plus an extra calendar month
2MD	Monthly credit payment of a full month’s supply plus an extra calendar month

Other Terms Associated with Payment

Contra	A payment from a customer less the value of purchases made by the supplier from the customer
Stage Payment	Payment of agreed amounts at certain times or upon the achievement of certain goals
Letter of Credit	A written undertaking from a bank to pay the beneficiary upon receipt of documents
Bill of Exchange	Promise to pay at a later date, usually with bank support