The term 'after date' refers to the words used in a bill of exchange to indicate that the period of the bill should commence from the date inserted on the bill. This affects the calculation of the payable date.
The term 'After Sight' refers to the specific wording used in a bill of exchange that indicates the time period for payment will start from the date the drawee accepts, or 'sees', the bill.
A transaction requiring that goods be paid for in full by cash or certified check at the point of delivery. Also known as Collect on Delivery with the same abbreviation.
Dating in commercial transactions refers to the extension of credit beyond the supplier's customary payment terms, allowing buyers more time to pay for goods or services.
A contract ensuring payment of the agreed consideration at a later date or upon the occurrence of a specified event.
A demand note is a financial instrument that is payable immediately upon the lender's request or on a specified date of maturity, without the necessity of further demand for payment.
EOM Dating refers to a specific arrangement in payment terms where all purchases made through a specific day of one month are payable within a set period after the end of the following month.
A contract in which the obligation of one or more parties, such as an obligation to pay money, deliver goods, or render services, is divided into a series of successive performances.
A sales discount, also known as a cash discount, is a reduction in the price of a product or service that is offered by the seller to buyers as an incentive for prompt payment.
A sales invoice is a document sent by the seller of goods or services to the buyer, detailing the amounts due, discounts available, payment dates, and such administrative details as account numbers and credit limits. It is a crucial component in business transactions and accounting.
Stretchout refers to two distinct concepts: accelerating the work pace without additional compensation for workers and extending the time needed to pay for a purchase.
A title retention clause, commonly known as a Romalpa clause, is a contractual clause ensuring that the seller retains ownership of the goods supplied until the buyer has paid the full purchase price.
The Trade Receivables Collection Period refers to the time given to customers to pay their accounts, which is typically 30 days. However, late payments can occur and may affect cash flow significantly.
