Updated: Mar 29, 2022
Payment terms are the conditions in which payment details are connected to a part of a sale of goods or services. Payment terms will go into detail about how the payment is made, the payback period, the currency and much more.
Payment terms are crucial to any business as bad payment terms can heavily impact the cash flow of a business.
Payment terms such as CIA, COD or CND can be confusing, so we created a small guide to payment terms.
Please note that this document is not legal advice. Legly, and its representatives, are not responsible for the content herein or the suitability for your company’s business. We recommend you use this in conjunction with legal advice and not as a substitute.