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08:45 May 18, 2005
English to Polish translations [PRO] Bus/Financial - Finance (general) / Request for proposals
...Legally speaking, Net 30 means that buyer will pay seller in full on or before the 30th calendar day (including weekends and holidays) of when the Goods were dispatched by the Seller or the Services were fully provided. Transit time is included when counting the days, i.e. a purchase in transit for 7 days before receipt has just 23 additional days until payment is due to the seller. Net 30 payment terms typically have an interest penalty for not meeting these terms and they begin accruing on the 31st day after dispatch. The same happens with Net 60, but 60 days are given for payment, interest penalties begin on the 61st day and thus a purchase in transit for 7 days has now 53 days until payment is due to the seller.