payment terms

noun

Meaning

The specific conditions, timeframes, and methods agreed upon for settling a financial debt or invoice.

Examples

Our standard payment terms require a fifty percent deposit before work begins.
The small business struggled because their clients often ignored the agreed payment terms.

Synonyms: credit terms, settlement conditions

Learn English that separates you from the crowd with Anaversity: private classes, Ani practice, Campus tools, and a public English-learning community.

payment terms

noun

Pronunciation: ˈpeɪmənt tɜːrmz

Definition

The specific conditions, timeframes, and methods agreed upon for settling a financial debt or invoice.

Examples

Our standard payment terms require a fifty percent deposit before work begins.
The small business struggled because their clients often ignored the agreed payment terms.
You should review the payment terms carefully to avoid late fees or interest charges.

Synonyms of payment terms

Words with a similar meaning to payment terms:

Browse the full Anaversity dictionary