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Code |
Code Name |
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Code Description |
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1 |
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Basic |
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Payment conditions normally applied. |
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2 |
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End Of Month |
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Payment term is end of month. |
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3 |
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Fixed Date |
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Payment term is fixed date. |
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4 |
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Deferred |
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Payment term is deferred. |
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5 |
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Discount Not Applicable |
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Payment term is discount not applicable. |
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6 |
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Mixed |
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Different payment terms negotiated under a documentary credit. |
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7 |
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Extended |
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Payment term is extended. |
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8 |
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Basic Discount Offered |
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Payment term is basic discount offered. |
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9 |
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Proximo |
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Payment term is in the next month after present. |
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10 |
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Instant |
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Payment term is due on receipt of invoice. |
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11 |
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Elective |
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Payment term is to be chosen by buyer (from options separately advised). |
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18 |
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Previously Agreed Upon |
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Payment term is previously agreed upon. |
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20 |
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Penalty Terms |
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Payment terms on which penalties apply. Penalty terms apply in case of non compliance to agreed payment terms. |
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21 |
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Payment By Installment |
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Payment term is payment by installment. |
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22 |
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Discount |
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Payment term is discount. |
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X11 |
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Valuta |
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Value date, which is a prolongation of the terms for payment |
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X12 |
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Discount After Deducting Freight |
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Payment term is discount after deducting freight. (New code) |
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X13 |
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No Charge |
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There is no charge associated to the payment term. (New code) |
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