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PAYMENT TERMS

/pā′mənt tʉrmz/

phrase

  • Conditions under which a seller will make a sale. Typically, these terms specify the period allowed to a buyer to pay off the amount due, and may demand cash in advance, cash on delivery, deferred payment period of 30 days or more, etc.
Example Sentences:According to our payment terms, invoices must be settled within 14 days.
We couldn’t accept their payment terms so we chose another supplier.
 
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