An electronic billing system where consumers make payments directly to the biller's website as opposed to using a third-party aggregator or banking site.
The book-to-bill ratio is a crucial metric in many industries, particularly in semiconductors, that measures the ratio of orders booked for future delivery to orders being shipped immediately and billed.
A bill submitted by a common carrier for additional charges that were not paid with the initial freight bill.
The term 'in arrears' refers to the status of payments that are overdue. In financial terms, it commonly indicates that the last payment was made at the end of a period rather than in advance. It can also mean that payments are in default, indicating non-compliance with the agreed payment schedule.
An invoice is a detailed bill sent from a seller to a buyer, outlining the products or services provided, prices, payment terms, and due dates.
A payer is an individual or entity that is responsible for the payment of a bill, fees, or other financial obligations. The role of the payer is critical in transactional and service delivery contexts within various economic sectors.
An estimate or 'sample invoice' provided by a seller to a buyer in certain circumstances, serving as a preliminary bill of sale before the details are finalized, often used in international trade and shipments.
Servicing generally refers to the regular maintenance and routine repairs to equipment. In finance, servicing encompasses the act of billing, collecting payments, and filing reports on a loan. This process is crucial for maintaining the operational and financial stability of both physical assets and financial instruments.
