PAYMENT TERMS Definition

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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.

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MORTGAGE BOND is a bond in which the issuer has granted the bondholders a lien against the pledged assets.

PRO-FORMA INVOICE is a price quote. It is written as an invoice, and, in effect, says: This is the purchase price and terms we are offering.

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