Glossary of Bulk Oil Terms

Net Terms

Posted by Hannah Broaddus

Dec 14, 2012 10:00:00 PM

Credit terms extended by a seller, allowing the customer to pay after they’ve received their product.  These terms are usually expressed using a maximum dollar amount that can be charged to the account, and how quickly the invoice is expected to be paid after shipping: for example, ‘$10,000, Net 15’.  

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