When speaking of credit terms, what is the difference between Cash, 1/10 Net 30, and Net 30?
- With Cash terms, payment is due before the order ships. Cash terms are commonly met with cash, check, credit/debit card, Paypal, or electronic transfer.
- 1/10 Net 30 means the customer is offered a 1% discount if the invoice is paid in full within 10 days, otherwise the full amount is due at 30 days. In order to take the 1% discount payment needs to be made by check or ACH transfer.
- Net 30 means the customer has 30 days from the invoice date (ship date) to make payment in full.
Tycon Systems can offer established customers terms of Net 30 upon approval of a completed credit application, available from our sales department. Click Here to contact us for more information.