Definition of Net 30:
A specific type of trade credit where the payment is due in full 30 days after the item is purchased. Businesses will often offer a discount with this situation, to encourage the customer to pay quicker. For example, a business might offer a 2% discount if the customer pays within 15 days. On the bill, this would be written as 2/15 net 30.
How to use Net 30 in a sentence?
- I did not realize that I was under a Net 30 agreement and would have to finish the transaction within 30 days.
- The terms of payment were agreed to be NET 30 , some clients chose to pay in 45 days and that is fine too.
- You need to always make sure that you get everything paid off within the time limit if you enter into any net 30 agreements.
Meaning of Net 30 & Net 30 Definition