PIA – Payment in advance

Net 7 – Payment seven days after invoice date

Net 10 – Payment ten days after invoice date

Net 30 – Payment 30 days after invoice date

Net 60 – Payment 60 days after invoice date

Net 90 – Payment 90 days after invoice date

EOM – End of month

21 MFI – 21st of the month following invoice date

1% 10 Net 30 – 1% discount if payment received within ten days otherwise payment 30 days after invoice date

COD – Cash on delivery

Cash account – Account conducted on a cash basis, no credit

Bill of exchange – A promise to pay at a later date, usually supported by a bank

Letter of credit – A documentary credit confirmed by a bank, often used for export

CND – Cash next delivery

CBS – Cash before shipment

CIA – Cash in advance

CWO – Cash with order

1MD – Monthly credit payment of a full month’s supply

2MD – Monthly credit payment of a full month’s supply plus an extra calendar month

Contra – Payment from the customer offset against the value of supplies purchased from the customer

Stage payment – Payment of agreed amounts at stage