Net monthly account

Payment due on last day of the month following the one in which the invoice is dated

PIA

Payment in advance

Net 7

Payment seven days after invoice date

Net 10

Payment ten days after invoice date

Net 30

Payment 30 days after invoice date

Net 60

Payment 60 days after invoice date

Net 90

Payment 90 days after invoice date

EOM

End of month

21 MFI

21st of the month following invoice date

1% 10 Net 30

1% discount if payment received within ten days otherwise payment 30 days after invoice date

COD

Cash on delivery

Cash account

Account conducted on a cash basis, no credit

Letter of credit

A documentary credit confirmed by a bank, often used for export

Bill of exchange

A promise to pay at a later date, usually supported by a bank

CND

Cash next delivery

CBS

Cash before shipment

CIA

Cash in advance

CWO

Cash with order

1MD

Monthly credit payment of a full month's supply

2MD

As above plus an extra calendar month

Contra

Payment from the customer offset against the value of supplies purchased from the customer

Stage payment

Payment of agreed amounts at stage