What is Payment Terms?

Definition

Specifies when and how payment is due: Net 30, Net 60, upon delivery, milestone-based. Also governs late payment penalties and interest. Watch for payment terms that shift significantly from what was discussed verbally.

Related Articles

Related Terms

Found this in your contract?

Upload it for a full AI analysis. Get a risk score, every flagged clause quoted and explained, and a clear sign-or-walk-away recommendation in under a minute.