credit terms
Loan repayment schedule
Credit terms are the conditions under which a seller extends credit to a buyer—specifying when payment is due, any discounts for early payment, and penalties for late payment.
Standard credit terms like "net 30" mean payment is due within thirty days; "2/10 net 30" offers a two percent discount if paid within ten days.
We negotiated better credit terms with our suppliers.
- deferred paymentBuying before paying
- buy now pay laterInstallment option at checkout
- grace periodAllowed delay before consequences
- loan agreementDocument governing borrowed funds
- creditworthinessAbility to repay debts
payment schedule · net 30 · installment · promissory note · late fee · balloon payment · accounts receivable · open account · invoice · down payment · pay in full · compound interest · risk assessment · simple interest · finance charges · discount rate · statement · negotiate
- economic vocabularynet income, retained earnings, working capital, accounts payable, accounts receivable
- business termsfranchising, revenue stream, board meeting, gross margin, markdown
- creditcreditworthiness, creditor, creditors, creditworthy, FICO
- Business Rulesauthorization, compliance, deadlines, hierarchy, hours of operation
- credit documentsloan contract, loan estimate, promissory note
- credit termsloans, installment loan, monthly payment, interest rate, installments
credit termscash payment
Transaction using physical currency
cash on delivery · COD · prepayment · cash basis · upfront payment