answersLogoWhite

0


Best Answer

Isn't it the bank is fully aware of the order is under certain # days of D/A so you will have the first priority to collect the payment before the account holder. This is how the payment term document against acceptance stands.

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Why people prefer only DA Payment terms?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Finance

What would the monthly payment be on a 203k loan?

This question cannot be answered without knowing the term of the loan and the interest rate, as well as any special terms such as an interest only period or balloon payment. To find out the monthly payment amount, gather this information and use a loan calculator widely available online to determine the exact monthly payment, or simply ask your loan officer.


What terms should be negotiated before paying a collection account in full?

Everything agreed upon should be in written form and in specific terms. Such as total amount, date for payment, method of payment, etc. DO NOT sign anything that is not clearly understood. DO NOT verbally agree to anything. Only supply needed contact information not bank account, financial status, etc.


Do you say make a payment or make payment?

It depends on what you want to say. The article "a" places the focus on the specific payment being made, usually in a series of payments: "I made a payment only yesterday!" "I make a payment only when I think of it". Without the article, the focus is more diffuse, more general, and may even imply full payment: "You should make payment immediately." "I made payment as soon as I received the invoice." As is often the case, though, there is no hard-and-fast rule about which should be used when ...


What are the terms of an interest only mortgage Is it equivalent to a 30-year fixed with additional principal payments?

With an interest only mortgage, the borrower pays only the interest due on the money that is borrowed. There is no money allotted in the payment amount that is reducing the principle. Interest only mortgages therefore have much lower payments but can result in negative amortization. 30-year fixed rate mortgages have money (albeit a very small amount to begin with) figured into the payment which is paying off the principle from the very first payment. Making additional payments toward the principle not only reduces the total amount of the loan, but also the amount of the total interest that will be paid to the lender. The amount of the payment may be much higher, but the result is equity (ownership). An interest only loan never leads to equity other than appreciation.


How much interest only payment can one pay for a home equity line of credit?

The amount of the interest payment depends on two things which are, the loan amount and the interest rate. Normally, if your payment is set up to pay interest only then the amount of the payment would be the total amount of interest earned in one month.

Related questions

Why does limited government matter?

Limited government matters because it forces the people within the government to be responsible for their actions. Unlimited government allows those same people to work only for themselves if they prefer. www.investopedia.com/terms/l/limited-government.asp‎


What are some terms used by gay people?

There are no terms used only by gay people and not straight people. But if you're talking about gay slang, Here is a list of Gay Slang Terms.


Why do some people watch only cartoons?

Some people just prefer the funny, less realistic shows.


Who is picture is on military payment certificate series 611?

They are only stylized portraits not real people


Is it true that only right brained people watch only cartoons?

I'm right brained, and I prefer cartoons. I watch some shows with real people too.


What is the only number not used in professional baseball?

All numbers are used, but some people prefer not to use it.


How many percent of people in the world like fruit?

It is difficult to determine an accurate percentage as preferences vary greatly among individuals. However, fruit is generally enjoyed by a majority of people around the world due to its taste, health benefits, and variety of options.


How many people wear boxer briefs?

One study has shown that 42 percent of men prefer to wear briefs. 36 percent of men prefer boxers and only 22 percent prefer to wear boxer briefs.


How do you determine what type of toothbrush you need in terms of soft, medium and hard?

Most dentists prefer that patients use toothbrushes that are soft because harder bristles can harm your gums and enamal, but some people only feel their teeth are clean after using a hard toothbrush.


What would the monthly payment be on a 203k loan?

This question cannot be answered without knowing the term of the loan and the interest rate, as well as any special terms such as an interest only period or balloon payment. To find out the monthly payment amount, gather this information and use a loan calculator widely available online to determine the exact monthly payment, or simply ask your loan officer.


What is the purpose of a dual scale thermometer?

Some people want to measure temperature in deg C while others prefer deg F. A dual scale thermometer will allow people to do what they prefer, but using only one thermometer.


What terms should be negotiated before paying a collection account in full?

Everything agreed upon should be in written form and in specific terms. Such as total amount, date for payment, method of payment, etc. DO NOT sign anything that is not clearly understood. DO NOT verbally agree to anything. Only supply needed contact information not bank account, financial status, etc.