terms of payment (SAP Library

terms of payment

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

Examples:

Stipulation of down-payment (advance payment) requirement

Cash on delivery

Payment following delivery (e.g. clauses "immediate payment in cash", "on a cash basis", stipulation of a period for payment)

Combined conditions, e.g. the clause "payable in 30 days net (without deduction) or within 10 days with 2% discount"