1
Basic
Payment conditions normally applied.
2
End of month
Self explanatory.
3
Fixed date
Self explanatory.
4
Deferred
Self explanatory.
5
Discount not applicable
Self explanatory.
6
Mixed
Different payment terms negotiated under a documentary credit.
7
Extended
Self explanatory.
8
Basic discount offered
Self explanatory.
9
Proximo
Occurring in the next month after present.
10
Instant
Payment is due on receipt of invoice.
11
Elective
Payment terms to be chosen by buyer (from options separately advised).
12
10 days after end of month
Payment due ten days after end of a calendar month.
13
Seller to advise buyer
Seller will advise buyer of payment terms by separate transaction.
14
Paid against statement
Self explanatory.
15
No charge
Self explanatory.
16
Not yet defined
Self explanatory.
17
Ultimo
Payment is due the end of the current or specified month.
18
Previously agreed upon
Self explanatory.
19
United States funds
The payment terms require the use of United States funds.
20
Penalty terms
Self explanatory.
21
Payment by instalment
Self explanatory.
22
Discount
Self explanatory.
23
Available by sight payment
Payment made at sight.
24
Available by deferred payment
Payment made at deferred date.
25
Available by acceptance
Payment on acceptance.
26
Available by negotiation with any bank
Payment made by negotiation with any bank.
27
Available by negotiation with any bank in ...
Payment made by negotiation with any bank in a specified location.
28
Available by negotiation by named bank
Payment made by negotiation with a specified financial institution.
29
Available by negotiation
Payment made by negotiation.
30
Adjustment payment
Payment adjusted for outstanding credits or debits.
31
Late payment
Payment after due date.
32
Advanced payment
Payment in advance of due date.
33
Payment by instalments according to progress (as agreed)
Payment by instalments according to progress (as agreed).
34
Payment by instalments according to progress (to be agreed)
Payment by instalments according to progress (to be agreed).
35
Nonstandard
Terms of payment differ from the normal terms.
36
Tenor payment terms
Payment to be made according to bilaterally agreed conditions between buyer and seller.
37
Complete payment
Payment must be made for complete value and may not be paid in instalments.
38
Payment terms defined in consolidated invoice
Payment terms are specified in a consolidated invoice.
39
Payment upon completion
The payment terms require payment upon completion.
40
Partial advance
The payment terms require a partial payment in advance of completion.
41
Consignment
The payment terms are that the goods will be paid for when they are sold or consumed.
42
Inter-company account
The payment terms involve the use of an inter-company account.
43
Sell by note
The payment terms involve a debtor who promises to pay a definite sum of money on demand or at a definite time in the future.
44
Supplier floor plan
The payment terms involve payment for merchandise owned by a third party.
45
Contract basis
The payment terms are based on a contract with a vendor.
46
Credit controlled
The payment terms involve the monitoring of credit by the grantor.
47
Dating given
The payment terms in which suppliers may extend seasonal dating.
48
Trade acceptance
A trade acceptance is a written acknowledgement of the sale of goods and promise to pay at a definite date and place.
49
Cost plus
The payment terms permit reimbursement of costs plus other authorised changes.
50
Letter of credit
The payment terms require the use of a letter of credit.
51
Lease agreement
The payment terms are included in the lease agreement.
52
Cash On Delivery (COD)
The payment terms are cash is due on delivery of merchandise.
53
Cash by state law
The payment terms are dictated by state law requiring payment of cash.
54
Bank transfer
The payment terms require the use of bank transfer.
55
Cash on arrival
The payment terms require payment by cash on arrival of the goods or services.
56
Cash
The payment terms are that payments are made in cash.
57
Cash discount terms apply
The payment terms are that a discount is applicable if the payment is made in cash.
58
Cash with order
The payment terms require the payment in cash with placement of the order.
59
Cash per vendor request
The payment terms involve a vendor request for payment by cash.
60
Irrevocable letter of credit
The payment terms require the use of an irrevocable letter of credit.
61
Documents against acceptance
The payment terms require acceptance of liability before document transfer.
62
Charge card
The payment terms permit the use of a charge card to effect payment.
63
Documents against payment
The payment terms require payment before document transfer.
64
Usance bill
The payment terms are based on the time allowed by commercial usage for the payment of foreign bills of exchange.
65
Letter of credit at sight
The payment terms require the presentation of a letter of credit.
66
Secured account
The payment terms call for the use of a secured account.
67
Basic commission terms
The payment terms call for the use of basic commission terms.
68
Deposit required
The payment terms require a deposit be provided.
69
Discount with prompt pay
The payment terms include a discount when payment is made within a time frame designated as prompt pay.
70
Discount with advance payment
The payment terms include a discount when payment is made in advance.
71
Certified cheque
The payment terms require the use of a certified cheque.
72
Cash against documents
The payment terms require cash payment before document transfer.
73
Bill of exchange
The payment terms require the use of bill of exchange.
ZZZ
Mutually defined
Self explanatory.