01 | Basic |
02 | End of Month (EOM) |
03 | Fixed Date |
04 | Deferred or Installment |
05 | Discount Not Applicable |
06 | Mixed |
07 | Extended |
08 | Basic Discount Offered |
09 | Proximo |
10 | Instant |
11 | Elective |
12 | 10 Days After End of Month (10 EOM) |
13 | Seller to advise buyer |
14 | Previously agreed upon |
15 | Special Proximo |
16 | Prompt Payment Act |
17 | Terms not Applicable |
18 | Fixed Date, Late Payment Penalty Applies Sales terms specifying a past due date, and a late payment percentage penalty applies to unpaid balances past this due date |
19 | Liquidation Term at which the progress will be liquidated before the final payment is made to the contractor |
20 | Progress Payment Term at which progress payments are authorized by the terms of the contract |
21 | Fast Pay Code indicating that an invoice is subject to accelerated payment |
22 | Cash Discount Terms Apply Contract terms specify that a cash discount is applicable |
23 | Payment Due Upon Receipt of Invoice |
24 | Anticipation A discount allowance given when an invoice is paid before its due date (anticipation = (agreed rate/365) x invoice amount x number of days early) |
CO | Consignment |
NC | No Charge |
PP | Prepayment |
ZZ | Mutually Defined |