What is 2/10 Net 30?
2/10 Net 30 – Notation “2% 10, net 30” indicates that a 2% discount can be taken by the buyer only if payment is received in full within 10 days of the dispatch of the goods, and that full payment is expected within 30 days.
OTHER TERMS BEGINNING WITH "#"
- 363 Sale
A 363 Sale refers to the sale of an organization’s assets under Section 363 of the US Bankruptcy Code. The sale enables debtors to fulfill their obligations to creditors.
- 3PL Company
3PL Company - Third-party logistics in logistics and supply chain management is an organization's use of third-party businesses to outsource elements of its distribution, warehousing, and fulfillment services.
- 3rd Party Payee
3rd Party Payee – A person who is specified in a Payment Order as the intended recipient of the funds the subject of the relevant Payment Transaction and who is not a Customer Payee.
- 5 C’s of Credit
The 5/five C's of Credit is a system used by lenders to gauge the creditworthiness of potential borrowers. The system weighs five characteristics of the borrower and conditions of the loan, attempting to estimate the chance of default and, consequently,…