Payment Terms Explained

Understanding payment terms is crucial for managing your finances and maintaining a good relationship with suppliers. This article explains what payment terms are and how they work.

What are payment terms?

Payment terms are the conditions under which a buyer must pay for goods or services received. These terms define the time frame within which the payment should be made and any potential discounts for early payments.

Standard Payment Terms

Credit Card Terms: For accounts on Credit Card Terms, payment is required immediately before the order can be processed.
Net 15: This is our standard payment term. It means that the full invoice amount is due 15 days after the invoice date.
Extended Terms: We offer extended payment terms of Net 30, Ne 60, and Net 90. These payments are due 30, 60, or 90 days after the invoice date, respectively.

Approval for Extended Terms

For payment terms beyond Net 30, approval is required on a case-by-case basis. Factors that can influence approval include:

Spending History: A track record of consistent and significant spending with Avail Swag.
On-Time Payments: A history of making payments on time, demonstrating reliability.
Annual Spend Amounts: Higher annual spending may make it more likely to receive extended terms.

Benefits of Understanding Payment Terms:

Budgeting: Knowing your payment terms helps you plan your cash flow and budget more effectively.
Maintaining Good Relationships: Adhering to agreed-upon payment terms fosters trust and reliability between you and your suppliers.
Avoiding Late Fees: Understanding and meeting payment deadlines helps you avoid additional costs associated with late payments.

Contacting Support:

If you have any questions about your payment terms or need to request extended terms, please contact our billing support team at accounting@availlabs.com or call us at 704-225-2282.

By understanding and managing your payment terms, you can ensure smooth financial operations and maintain a positive relationship with Avail Swag.