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1 |
| Basic |
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Payment conditions normally applied. |
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2 |
| End of month |
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Payments are due at end of month. |
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3 |
| Fixed date |
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Payments are due on the fixed date specified. |
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4 |
| Deferred |
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Payments are deferred beyond the normal due date. |
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5 |
| Discount not applicable |
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Payment terms on which discounts are not applicable. |
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6 |
| Mixed |
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Different payment terms negotiated under a documentary credit. |
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7 |
| Extended |
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Payment is extended beyond the normal due date. |
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8 |
| Basic discount offered |
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Payment terms reflect the basic offered discount. |
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9 |
| Proximo |
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Occurring in the next month after present. |
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10 |
| Instant |
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Payment is due on receipt of invoice. |
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11 |
| Elective |
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Payment terms to be chosen by buyer (from options separately advised). |
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12 |
| 10 days after end of month |
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Payment due ten days after end of a calendar month. |
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13 |
| Seller to advise buyer |
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Seller will advise buyer of payment terms by separate transaction. |
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14 |
| Paid against statement |
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Payments are to be made against statement. |
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15 |
| No charge |
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Payment terms have no charge. |
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16 |
| Not yet defined |
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Payment terms are not yet defined. |
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17 |
| Ultimo |
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Payment is due the end of the current or specified month. |
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18 |
| Previously agreed upon |
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Payment terms have been previously agreed upon. |
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19 |
| United States funds |
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The payment terms require the use of United States funds. |
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20 |
| Penalty terms |
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Payment terms on which penalties apply. |
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21 |
| Payment by instalment |
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Payment terms are based on instalment payments. |
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22 |
| Discount |
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Payment terms on which discounts are applicable. |
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23 |
| Available by sight payment |
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Payment made at sight. |
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24 |
| Available by deferred payment |
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Payment made at deferred date. |
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25 |
| Available by acceptance |
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Payment on acceptance. |
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26 |
| Available by negotiation with any bank |
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Payment made by negotiation with any bank. |
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27 |
| Available by negotiation with any bank in ... |
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Payment made by negotiation with any bank in a specified location. |
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28 |
| Available by negotiation by named bank |
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Payment made by negotiation with a specified financial institution. |
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29 |
| Available by negotiation |
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Payment made by negotiation. |
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30 |
| Adjustment payment |
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Payment adjusted for outstanding credits or debits. |
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31 |
| Late payment |
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Payment after due date. |
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32 |
| Advanced payment |
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Payment in advance of due date. |
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33 |
| Payment by instalments according to progress (as agreed) |
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Payment by instalments according to progress (as agreed). |
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34 |
| Payment by instalments according to progress (to be agreed) |
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Payment by instalments according to progress (to be agreed). |
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35 |
| Nonstandard |
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Terms of payment differ from the normal terms. |
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36 |
| Tenor payment terms |
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Payment to be made according to bilaterally agreed conditions between buyer and seller. |
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37 |
| Complete payment |
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Payment must be made for complete value and may not be paid in instalments. |
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38 |
| Payment terms defined in consolidated invoice |
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Payment terms are specified in a consolidated invoice. |
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39 |
| Payment upon completion |
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The payment terms require payment upon completion. |
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40 |
| Partial advance |
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The payment terms require a partial payment in advance of completion. |
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41 |
| Consignment |
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The payment terms are that the goods will be paid for when they are sold or consumed. |
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42 |
| Inter-company account |
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The payment terms involve the use of an inter-company account. |
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43 |
| Sell by note |
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The payment terms involve a debtor who promises to pay a definite sum of money on demand or at a definite time in the future. |
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44 |
| Supplier floor plan |
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The payment terms involve payment for merchandise owned by a third party. |
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45 |
| Contract basis |
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The payment terms are based on a contract with a vendor. |
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46 |
| Credit controlled |
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The payment terms involve the monitoring of credit by the grantor. |
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47 |
| Dating given |
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The payment terms in which suppliers may extend seasonal dating. |
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48 |
| Trade acceptance |
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A trade acceptance is a written acknowledgement of the sale of goods and promise to pay at a definite date and place. |
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49 |
| Cost plus |
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The payment terms permit reimbursement of costs plus other authorised changes. |
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50 |
| Letter of credit |
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The payment terms require the use of a letter of credit. |
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51 |
| Lease agreement |
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The payment terms are included in the lease agreement. |
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52 |
| Cash On Delivery (COD) |
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The payment terms are cash is due on delivery of merchandise. |
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53 |
| Cash by state law |
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The payment terms are dictated by state law requiring payment of cash. |
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54 |
| Bank transfer |
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The payment terms require the use of bank transfer. |
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55 |
| Cash on arrival |
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The payment terms require payment by cash on arrival of the goods or services. |
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56 |
| Cash |
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The payment terms are that payments are made in cash. |
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57 |
| Cash discount terms apply |
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The payment terms are that a discount is applicable if the payment is made in cash. |
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58 |
| Cash with order |
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The payment terms require the payment in cash with placement of the order. |
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59 |
| Cash per vendor request |
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The payment terms involve a vendor request for payment by cash. |
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60 |
| Irrevocable letter of credit |
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The payment terms require the use of an irrevocable letter of credit. |
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61 |
| Documents against acceptance |
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The payment terms require acceptance of liability before document transfer. |
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62 |
| Charge card |
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The payment terms permit the use of a charge card to effect payment. |
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63 |
| Documents against payment |
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The payment terms require payment before document transfer. |
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64 |
| Usance bill |
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The payment terms are based on the time allowed by commercial usage for the payment of foreign bills of exchange. |
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65 |
| Letter of credit at sight |
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The payment terms require the presentation of a letter of credit. |
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66 |
| Secured account |
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The payment terms call for the use of a secured account. |
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67 |
| Basic commission terms |
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The payment terms call for the use of basic commission terms. |
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68 |
| Deposit required |
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The payment terms require a deposit be provided. |
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69 |
| Discount with prompt pay |
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The payment terms include a discount when payment is made within a time frame designated as prompt pay. |
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70 |
| Discount with advance payment |
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The payment terms include a discount when payment is made in advance. |
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71 |
| Certified cheque |
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The payment terms require the use of a certified cheque. |
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72 |
| Cash against documents |
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The payment terms require cash payment before document transfer. |
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73 |
| Bill of exchange |
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The payment terms require the use of bill of exchange. |
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74 |
| Progressive discount |
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The payment terms include a progressive discount based on the amount and speed with which payments are made. |
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75 |
| Lump sum |
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The payment term requires a lump sum payment. |
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76 |
| Fixed fee |
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The payment term requires a fixed fee payment. |
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77 |
| Promissory note |
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The payment term requires the use of a promissory note as a means of payment. |
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78 |
| Factoring |
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Payment term requires payment being made by the factoring company according to the agreement between buyer, bank and factoring company. |
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ZZZ |
| Mutually defined |
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A code assigned within a code list to be used on an interim basis and as defined among trading partners until a precise code can be assigned to the code list. |
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