I'm trying to understand what payment terms are. I've heard this phrase a lot in business transactions and contracts, but I'm not entirely sure what it entails. Could someone explain it to me?
6 answers
Dario
Thu Jan 09 2025
Payment terms represent the specific conditions and parameters that govern the payment for a product or service.
CryptoAlchemy
Thu Jan 09 2025
These terms are established by the seller for the benefit of the customer.
Chloe_emma_researcher
Thu Jan 09 2025
They encompass various considerations such as the mode of payment.
LucyStone
Wed Jan 08 2025
Customers can assess whether they can make payments in installments.
EchoWave
Wed Jan 08 2025
Another aspect is the acceptance of credit or cash as payment methods.