Code qualifying the type of payment terms.
Type
String (AN)
Length
Max 3 / Min 1
Codes
<> 1
Basic
Payment conditions normally applied.
<> 2
End of month
Payments are due at end of month.
<> 3
Fixed date
Payments are due on the fixed date specified.
<> 4
Deferred
Payments are deferred beyond the normal due date.
<> 5
Discount not applicable
Payment terms on which discounts are not applicable.
<> 6
Mixed
Different payment terms negotiated under a documentary credit.
<> 7
Extended
Payment is extended beyond the normal due date.
<> 8
Basic discount offered
Payment terms reflect the basic offered discount.
<> 9
Proximo
Occurring in the next month after present.
<> 10
Instant
Payment is due on receipt of invoice.
<> 11
Elective
Payment terms to be chosen by buyer (from options separately advised).
<> 12
10 days after end of month
Payment due ten days after end of a calendar month.
<> 13
Seller to advise buyer
Seller will advise buyer of payment terms by separate transaction.
<> 14
Paid against statement
Payments are to be made against statement.
<> 15
No charge
Payment terms have no charge.
<> 16
Not yet defined
Payment terms are not yet defined.
<> 17
Ultimo
Payment is due the end of the current or specified month.
<> 18
Previously agreed upon
Payment terms have been previously agreed upon.
<> 19
United States funds
The payment terms require the use of United States funds.
<> 20
Penalty terms
Payment terms on which penalties apply.
<> 21
Payment by instalment
Payment terms are based on instalment payments.
<> 22
Discount
Payment terms on which discounts are applicable.
<> 23
Available by sight payment
Payment made at sight.
<> 24
Available by deferred payment
Payment made at deferred date.
<> 25
Available by acceptance
Payment on acceptance.
<> 26
Available by negotiation with any bank
Payment made by negotiation with any bank.
<> 27
Available by negotiation with any bank in ...
Payment made by negotiation with any bank in a specified location.
<> 28
Available by negotiation by named bank
Payment made by negotiation with a specified financial institution.
<> 29
Available by negotiation
Payment made by negotiation.
<> 30
Adjustment payment
Payment adjusted for outstanding credits or debits.
<> 31
Late payment
Payment after due date.
<> 32
Advanced payment
Payment in advance of due date.
<> 33
Payment by instalments according to progress (as agreed)
Payment by instalments according to progress (as agreed).
<> 34
Payment by instalments according to progress (to be agreed)
Payment by instalments according to progress (to be agreed).
<> 35
Nonstandard
Terms of payment differ from the normal terms.
<> 36
Tenor payment terms
Payment to be made according to bilaterally agreed conditions between buyer and seller.
<> 37
Complete payment
Payment must be made for complete value and may not be paid in instalments.
<> 38
Payment terms defined in consolidated invoice
Payment terms are specified in a consolidated invoice.
<> 39
Payment upon completion
The payment terms require payment upon completion.
<> 40
Partial advance
The payment terms require a partial payment in advance of completion.
<> 41
Consignment
The payment terms are that the goods will be paid for when they are sold or consumed.
<> 42
Inter-company account
The payment terms involve the use of an inter-company account.
<> 43
Sell by note
The payment terms involve a debtor who promises to pay a definite sum of money on demand or at a definite time in the future.
<> 44
Supplier floor plan
The payment terms involve payment for merchandise owned by a third party.
<> 45
Contract basis
The payment terms are based on a contract with a vendor.
<> 46
Credit controlled
The payment terms involve the monitoring of credit by the grantor.
<> 47
Dating given
The payment terms in which suppliers may extend seasonal dating.
<> 48
Trade acceptance
A trade acceptance is a written acknowledgement of the sale of goods and promise to pay at a definite date and place.
<> 49
Cost plus
The payment terms permit reimbursement of costs plus other authorised changes.
<> 50
Letter of credit
The payment terms require the use of a letter of credit.
<> 51
Lease agreement
The payment terms are included in the lease agreement.
<> 52
Cash On Delivery (COD)
The payment terms are cash is due on delivery of merchandise.
<> 53
Cash by state law
The payment terms are dictated by state law requiring payment of cash.
<> 54
Bank transfer
The payment terms require the use of bank transfer.
<> 55
Cash on arrival
The payment terms require payment by cash on arrival of the goods or services.
<> 56
Cash
The payment terms are that payments are made in cash.
<> 57
Cash discount terms apply
The payment terms are that a discount is applicable if the payment is made in cash.
<> 58
Cash with order
The payment terms require the payment in cash with placement of the order.
<> 59
Cash per vendor request
The payment terms involve a vendor request for payment by cash.
<> 60
Irrevocable letter of credit
The payment terms require the use of an irrevocable letter of credit.
<> 61
Documents against acceptance
The payment terms require acceptance of liability before document transfer.
<> 62
Charge card
The payment terms permit the use of a charge card to effect payment.
<> 63
Documents against payment
The payment terms require payment before document transfer.
<> 64
Usance bill
The payment terms are based on the time allowed by commercial usage for the payment of foreign bills of exchange.
<> 65
Letter of credit at sight
The payment terms require the presentation of a letter of credit.
<> 66
Secured account
The payment terms call for the use of a secured account.
<> 67
Basic commission terms
The payment terms call for the use of basic commission terms.
<> 68
Deposit required
The payment terms require a deposit be provided.
<> 69
Discount with prompt pay
The payment terms include a discount when payment is made within a time frame designated as prompt pay.
<> 70
Discount with advance payment
The payment terms include a discount when payment is made in advance.
<> 71
Certified cheque
The payment terms require the use of a certified cheque.
<> 72
Cash against documents
The payment terms require cash payment before document transfer.
<> 73
Bill of exchange
The payment terms require the use of bill of exchange.
<> 74
Progressive discount
The payment terms include a progressive discount based on the amount and speed with which payments are made.
<> 75
Lump sum
The payment term requires a lump sum payment.
<> 76
Fixed fee
The payment term requires a fixed fee payment.
<> 77
Promissory note
The payment term requires the use of a promissory note as a means of payment.
<> 78
Factoring
Payment term requires payment being made by the factoring company according to the agreement between buyer, bank and factoring company.
<> ZZZ
Mutually defined
A code assigned within a code list to be used on an interim basis and as defined among trading partners until a precise code can be assigned to the code list.
