Sale Terms

Last Updated: Jun 7, 2019

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Typically noted in terms of days, it is the amount of time after an invoice is issued that the customer has to pay for the good/service. Sales terms also include any discounts or rebates that may occur due to early payment.   For example, a vendor might sell its product to a retailer on the terms "2/10, N30" which means that there is a 2% discount for paying in 10 days, and the balance (net) of the invoice is due in 30 days.