Identification of the type of payment terms.
Type
String (AN)
Length
Max 3 / Min 1
Codes
<> 1
Basic
Payment conditions normally applied.
<> 2
End of month
<> 3
Fixed date
<> 4
Deferred
<> 5
Discount not applicable
<> 6
Mixed
Different payment terms negotiated under a documentary credit.
<> 7
Extended
<> 8
Basic discount offered
<> 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
<> 15
No charge
<> 16
Not yet defined
<> 17
Ultimo
Payment is due the end of the current or specified month.
<> 18
Previously agreed upon
<> 20
Penalty terms
<> 21
Payment by instalment
<> 22
Discount
<> 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.
<> ZZZ
Mutually defined
