Terms of payment

Terms of payment primarily depend on the business policy of the company. The next thing that needs to be defined is for which amounts the payment deadline will apply. This can be influenced by the creditworthiness itself and the assessment of whether the customer is reliable. Each company will decide for itself whether partial or full advance payments are mandatory, which customers can pay upon delivery of the goods, and which customers will be granted deferred payment. In the case of deferred payment, the deadlines and dynamics of payment are usually defined by a contract concluded between the seller and the buyer.