Payment Terms

CWOCash with Order
CIACash in Advance
CBSCash before Shipment
CODCash on Delivery
Upon ReceiptPayment due Immediately Upon Delivery of Invoice
EOMEnd of Month. Payment is due at the end of the month of the invoice
Net Monthly AccountPayment is due at the end of the month following the month of the invoice
30 days End of MonthPayment is due at the end of the month following the month of the invoice
60 days End of MonthPayment is due at the end of the month following the month of the invoice
Net 7 or 7 DaysPayment of the net amount outstanding on the invoice is due seven calendar days after the date of the invoice
Net 14 or 14 DaysPayment of the net amount outstanding on the invoice is due fourteen calendar days after the date of the invoice
Net 15Payment of the net amount outstanding on the invoice is due fifteen calendar days after the date of the invoice
Net 30Payment of the net amount outstanding on the invoice is due thirty calendar days after the date of the invoice
Net 60Payment of the net amount outstanding on the invoice is due sixty calendar days after the date of the invoice
2% 10 Net 30Payment of the invoice is due within thirty calendar days but payments within 10 days can take a discount of 2%
21 MFIThe 21st of the month following the invoice month
CNDCash Next Delivery
1MDMonthly credit payment of a full month’s supply
2MDMonthly credit payment of a full month’s supply plus an extra calendar month
2MDMonthly credit payment of a full month’s supply plus an extra calendar month

Other Terms Associated with Payment

ContraA payment from a customer less the value of purchases made by the supplier from the customer
Stage PaymentPayment of agreed amounts at certain times or upon the achievement of certain goals
Letter of CreditA written undertaking from a bank to pay the beneficiary upon receipt of documents
Bill of ExchangePromise to pay at a later date, usually with bank support

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