Standard payment and discount terms

August 6, 2019

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Q. I'm looking for a list of standard payment terms and discount terms. A.  Organizations have varying philosophies when it comes to discounts. Some organizations actively pursue discounts, while others opt to keep their cash in hand for as long as possible.  Finance and purchasing must be in agreement on how the organization will manage its cash so that negotiated terms will be honored and the cash necessary to do so will be made available.Once the philosophy has been determined and policies…

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