PAYMENT TERMS Definition

Bookmark and Share

PAYMENT TERMS is the legal or contractual stipulation by a business as to when payment is to be made for goods or services supplied, e.g. cash with order, payment on delivery, or within a particular number of days of the invoice date.

Learn new Accounting Terms

MEMORANDUM FOR RECORD (MR) is an in-house memo covering information that would otherwise not be recorded in writing.

TIC is Total Invested Capital.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.