Compare due on receipt with a short net term
- A plumber emails an invoice on Friday eveningThe customer opens it on Monday and pays on Wednesday. The plumber calls it two days late. The customer says they paid on the second day. A fixed date, or net 7, would have removed the argument.
- Where it fitsConsumer and retail jobs, one-off services for a new customer, final invoices after work is accepted, deposits and retainers.
Source: Due on Receipt, decoded by Procurement VMS