net 30
Definition
A specific type of trade credit where the payment is due in full 30 days after the item is purchased. Businesses will often offer a discount with this situation, to encourage the customer to pay quicker. For example, a business might offer a 2% discount if the customer pays within 15 days. On the bill, this would be written as 2/15 net 30.
net 30 is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
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