Billing and Collection
/ˈbɪlɪŋ ænd kəˈlɛkʃən/
Definitions
- (n.) The process of preparing and sending invoices for services or goods, and the subsequent recovery of payment.
The company's billing and collection department ensures all client invoices are issued promptly and payments are followed up.
Forms
- billing and collection
- billing and collections
- billings and collections
Related terms
See also
Commentary
In legal contexts, billing and collection often intertwines contract terms with enforcement of payment obligations; precise contract clauses can influence collection strategies.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.