terms of payment (LO)

Logistics - General (LO)

Arrangements made with a business partner for financial settlement with respect to goods supplied and services performed.

Example:

• Stipulation of down-payment (advance payment)
• Cash on delivery
• Payment following delivery, (for example, clauses "immediate payment in cash," or "on a cash basis," or stipulation of a period for payment)
• Combined conditions, (for example, the clause "payable in 30 days net without deduction or within 10 days with 2% discount")