Common Invoice Payment Terms

 PIA - Payment in advance Discount Payment Terms

 Net 7 - Payment seven days after invoice date
 Net 10 - Payment ten days after invoice date  Accumulation discounts - Discounts for large purchases
 Net 30 - Payment 30 days after invoice date  Coupons - These have certain terms, such as a certain quantity has to be purchased or if the
 Net 60 - Payment 60 days after invoice date customer is past a certain age
 Net 90 - Payment 90 days after invoice date  Disability discount - Offer to customers with a disability

 EOM - End of month  Discount card - Issuing cards that give certain customers or any customer a discount

 21 MFI - 21st of the month following invoice date  Educational or student discount - Usually given to students, but may go to educators

 1% 10 Net 30 - 1% discount if payment received within ten days otherwise payment 30 days  Employee discount - Offered to employees
after invoice date  Forward dating - Moving the invoice date forward so that the payment is made after receipt of
 COD - Cash on delivery goods
 Cash account - Account conducted on a cash basis, no credit  Military discount - Offered to members of the military and family members

 Letter of credit - A documentary credit confirmed by a bank, often used for export  Partial payment discount - When a seller needs cash flow, he may offer a partial discount

 Bill of exchange - A promise to pay at a later date, usually supported by a bank  Preferred payment method discount - Some retailers give customers a lower price if they pay
with cash. This saves the fee the retailer pays on credit cards.
 CND - Cash next delivery
 Prompt payment discount - The wholesaler or manufacturer gives a discount to the retailer at
 CBS - Cash before shipment the list price or catalogue price. This sometimes applies to promotions.
 CIA - Cash in advance  Rebates - A refund mailed to the purchaser after a purchase
 CWO - Cash with order  Sliding scale - This discount is calculated on a person's ability to pay. This is common with
 1MD - Monthly credit payment of a full month's supply non-profit organizations.
 2MD - Monthly credit payment of a full month's supply plus an extra calendar month  Seasonal discount - Usually this is given during a slack period when sales are down.
 Contra - Payment from the customer offset against the value of supplies purchased from the  Toddler discount, child discount, or kid discount - This covers free or discounted prices for
customer children under a certain age. There is usually a requirement that an adult pay full price.
 Stage payment - Payment of agreed amounts at stage  Trade discount - Payments for functions such as shelf stocking, warehousing or shipping
 Trade-in credit - A discount for something that is returned
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