Glossary entry

English term or phrase:

30 day account

English answer:

within 30 days after the invoice date

Added to glossary by Phong Le
Nov 9, 2007 02:32
16 yrs ago
2 viewers *
English term

30 day account

English Law/Patents Law: Contract(s)
Please can you explain the meaning of that phrase in below part of the contract, Thank you.

II. TERMS OF PAYMENT

30 day account

Inclusions
The following items are included in the contract:


Exclusions
The following items are not included in the contract:

Responses

+4
3 hrs
Selected

within 30 days after the invoice date

One meaning of account (oxford dictionary):
account = a bill for goods or services provided over a period.

So, "30 day account" = "30 day invoice"; the most possible date is then the date of the invoice.
Peer comment(s):

agree Jack Doughty
1 hr
Thank you Jack!
agree Sheila Wilson
1 hr
Thanks Sheila!
agree P Waters
14 hrs
agree Pham Huu Phuoc
1 day 37 mins
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4 KudoZ points awarded for this answer. Comment: "That's what i think. Thank you all"
1 hr

Open account, 30 days

Payment will be made 30 days from delivery/invoice or Bill of lading.
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13 hrs

Client has the right to take up to 30 days to pay without incurring penalities or interest

It is possible more favoured clients are given 60-day accounts, which means they have 2 months to pay before being dunned.
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