@eyelove2shop wrote:
This is a good thread topic. Every company I work with pays NET 30+. I'd be interested in knowing which companies actually pay within weeks or even days.
Many companies do not pay Net XX Days but rather pay Proximo. (Latin for of the next month). If terms are, for example, Net 10th Proximio, all invoices in Month A are paid on the 10th of Month B.
A twist to Proximo terms is proximo with a cut off. For example, Net 10th Proximo; cut off 25th. This means that all invoices through the 25th of Month A are paid on the 10th of Month B while all invoices from the 26th to the last day of Month A are paid on the 10th of Month C.
Another twist to payments terms would be, Net 10th 2nd Proximo - e.g. All invoices in Month A are paid on the 10th day of the second month following invoice (e.g. Month C).
HS Brands is the only firm I regularly work with that pays in a fixed number of days. Their terms are Net 60 days.