Description:

Describes payment terms for a financial transaction, used in an invoice.

This is typically expressed as a responsibility of the acceptor or payor of an invoice.

Definition:

Payment in full for products and/or services is required as soon as the service is performed or goods delivered.

Definition:

Payment in full for products and/or services is required 30 days from the time the service is performed or goods delivered.

Definition:

Payment in full for products and/or services is required 60 days from the time the service is performed or goods delivered.

Definition:

Payment in full for products and/or services is required 90 days from the time the service is performed or goods delivered.