#Net invoice definition full#
Legally speaking, net 30 means that buyer will pay seller in full on or before the 30th calendar day (including weekends and holidays) of when the goods were dispatched by the seller or the services were fully provided. Net 60 is not used as frequently due to its longer payment term. Net 10 and net 15 are widely used as well, especially for contractors and service-oriented business (as opposed to those that deal with tangible goods). Net 30 is a term that most business and municipalities (federal, state, and local) use in the United States. 02 = $20) and make a payment of $980 within 10 days or pay the full $1000 within 30 days. The notation "2% 10, net 30" indicates that a 2% discount can be taken by the buyer only if payment is received in full within 10 days of the date of the invoice, and that full payment is expected within 30 days, For example, if a $1000 invoice has the terms, "2% 10, net 30", the buyer can take a 2% discount ($1000 x.If a $1000 invoice has the terms "net 30", the buyer must pay the full $1000 within 30 days. The notation "net 30" indicates that full payment is expected within 30 days.It originally derives from the Latin nitere (to shine) and nitidus (elegant, trim), and more recently from the French net (sharp, neat, clean).
The word net in this sense means "total after all discounts". Net 30 or net 60 terms are often coupled with a credit for early payment. Net 10, net 15, net 30 and net 60 (often hyphenated "net-" and/or followed by "days", e.g., "net 10 days") are payment terms for trade credit, which specify that the net amount (the total outstanding on the invoice) is expected to be paid in full by the buyer within 10, 15, 30 or 60 days of the date when the goods are dispatched or the service is completed. JSTOR ( December 2012) ( Learn how and when to remove this template message).Unsourced material may be challenged and removed. Please help improve this article by adding citations to reliable sources. This article needs additional citations for verification.
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