If terms are 3% 10FF, that means that payment will be made the 10th of the following month. It is very similar to 3/10EOM.
example - if invoiced on 10/15/12 - payment will be due on 11/10/12
It means that you have 90 days to pay the invoice, and if it is paid within 10 days, you receive a 3.45% discount on the original invoice amount.
3n10 net30 This is usually the way it's stated (or something similar) 2n10 net 30 means a 2 percent discount if paid within in ten days of the invoice date with full payment due in 30 days. So 3n10 would describe a 3 percent discount.
This is called as cash discount or settlement discountIn your question this means that a 10% discount is available if the payment is made withing 10 days from the invoice date otherwise the whole amount 10500 is to be paid within 30 days from the invoice date.
From an accounting manual for a university - with many definitions for various payment terms I found this:2% 10 and 25th =2% discount allowed on payments made on or before the 25th of the month for invoices issued the first half of the month; 2% discount allowed for payments made on or before the 10th of the succeeding month for invoices issued the last half of the month.(an accounting manual, the Disbursements: Discount Terminology section)http://www.ucop.edu/ucophome/policies/acctman/d-371-23.pdf.
"Net 10 Days" means payment is due in 10 days. Which is normally from date of invoice and with goods already in transit. For this instance the terms would be: Net 10 Days from date of Invoice If you do not want to ship goods prior to payment you would use the above term and add "Prior to Shipment".
7 percent as a fraction in lowest terms is 7/10
It means that you have 90 days to pay the invoice, and if it is paid within 10 days, you receive a 3.45% discount on the original invoice amount.
"Net 10 MF" typically refers to payment terms in a business context. It means that the net amount is due within 10 days of the invoice date, and "MF" usually stands for "monthly factoring," indicating that the payment may be linked to a factoring arrangement, where a business sells its receivables to a third party at a discount for immediate cash. These terms help manage cash flow and prompt timely payments.
3n10 net30 This is usually the way it's stated (or something similar) 2n10 net 30 means a 2 percent discount if paid within in ten days of the invoice date with full payment due in 30 days. So 3n10 would describe a 3 percent discount.
Tithe (or tithing)
This is known as a TITHE.
$1,060.66/month.
Tithe
1/10
3/10
This is called as cash discount or settlement discountIn your question this means that a 10% discount is available if the payment is made withing 10 days from the invoice date otherwise the whole amount 10500 is to be paid within 30 days from the invoice date.
Common payment terms include "Net 30," which requires payment within 30 days of invoice receipt, and "Due on Receipt," where payment is expected immediately upon receiving the invoice. Other terms may specify discounts for early payment, such as "2/10 Net 30," meaning a 2% discount is available if paid within 10 days. Additionally, "COD" (Cash on Delivery) requires payment at the time of delivery. These terms help businesses manage cash flow and set clear expectations for payment timelines.