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What does terms of Net on a contract mean?

Updated: 10/25/2022
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Yordestiny77

Lvl 1
13y ago

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If you mean on a contract that you need to pay (invoice), it probably has something like 2/10 net 30. If this is what you are talking about it means that you can take a 2% discount if it is paid within 10 days, otherwise the "net" amount is due in 30 days.

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13y ago
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Q: What does terms of Net on a contract mean?
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