Trade Payable
/ˈtreɪd ˈpeɪəbl/
Definitions
- (n.) A liability on the balance sheet representing amounts a business owes to suppliers for goods or services received on credit.
The company's trade payables must be settled within 30 days to maintain good creditor relationships.
Forms
- trade payable
- trade payables
Related terms
See also
Commentary
Trade payables primarily appear in accounting and commercial contexts within law, useful for understanding contractual credit obligations in business transactions.
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.