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Net 10, net 15, net 30 and net 60 (often hyphenated "net-" and/or followed by "days", e.g., "net 10 days") are payment terms for trade credit, which specify that the net amount (the total outstanding on the invoice) is expected to be paid in full by the buyer within 10, 15, 30 or 60 days of the date when the goods are dispatched or the service is completed.
An example of a common payment term is Net 30 days, which means that payment is due at the end of 30 days from the date of invoice. The debtor is free to pay before the due date; businesses can offer a discount for early payment. Other common payment terms include Net 45, Net 60, and 30 days end of month.
If a buyer receives a 2 per cent discount for early payment of an invoice—for example paying a 30-day-net invoice after 10 days. Therefore, instead of earning interest on the cash held in an account, it is “invested” for 20 days to get a 2 per cent return, This represents the equivalent of an over 36 per cent annual return on capital ...
Suppliers offer various payment terms for an invoice. Payment terms may include the offer of a cash discount for paying an invoice within a defined number of days. For example, 2%, Net 30 terms mean that the payer will deduct 2% from the invoice if payment is made within 30 days. If the payment is made on Day 31 then the full amount is paid.
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The term is usually used in relation with periodically-recurring payments such as rent, bills, royalties (or other contractual payments), and child support. Payment in arrear is a payment made after a service has been provided, as distinct from in advance, which are payments made at the start of a period. [ 2 ]
Hints show the letters of a theme word. If there is already an active hint on the board, a hint will show that word’s letter order. Related: 300 Trivia Questions and Answers to Jumpstart Your ...
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