Net Terms
Definitions
- (n.) The period of time agreed between parties within which payment for goods or services must be made in full, commonly specified in sales or credit agreements.
The invoice states net terms of 30 days, meaning payment is due within 30 days of the invoice date.
Forms
- net terms
- net term
Related terms
See also
Commentary
Net terms are typically expressed in days and specify payment deadlines without deductions; clarity in drafting helps avoid disputes on when payments are due.
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.