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Understanding early-pay discount terms
June 7, 2023
Q. A supplier offered me an early payment discount. The invoice is 2%/Net15 / Net30. This means that I can take 2% discount if I paid in 15 days, or I pay the full amount on 30. Taking as an example the following
Invoice Date (02/01/23) + 2%/Net15 = When is the actual payment due date so I DO NOT miss the discount 02/15 or 02/16?
So my question is whether I count the invoice date itself as day 1, or is it the invoice plus (+) 15 days?
A.
(Answered by the IOFM Advisory Panel. We provide a cross…
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