Key takeaways
- Net 15 means payment is due 15 days after the invoice date or other agreed start event.
- It suits small jobs, new customers, freelancers and any business with thin cash.
- It is only as short as you enforce it. Send reminders before the due date and charge late fees you stated up front.
- In India the MSMED Act default of 15 days applies to MSME suppliers where there is no written agreement.
Free PDF and Excel: Net 15 reminder schedule and cash impact sheet. Get it below
What net 15 means
Net 15 is a payment term meaning the full invoice amount is due 15 days after the start date, normally the invoice date.
Compared with net 30, it halves the wait. Compared with due on receipt, it gives the payer two weeks to route the invoice through approval.
A small design studio bills 40 clients a year, each about 1,500. On net 30 the average receivable is roughly 1,500 times 40 times 30 over 365, about 4,900. On net 15 it is about 2,500.
The studio has 2,400 more cash on hand at any time with no change in sales. For a business with a small buffer that is real.
Making it stick
- State the term on the quote, contract and invoice.
- Send the invoice the day work is accepted.
- Remind 3 days before the due date.
- Follow up the day after, using a past due invoice notice if needed.
- State a late fee or interest rate in advance.
- Offer easy payment: bank transfer details, a payment link.
Free PDF and Excel
Net 15 reminder schedule and cash impact sheet
A reminder schedule for short payment terms and a sheet that shows the cash you free by shortening terms.
- Reminder schedule
- Late fee wording guide
- Cash impact calculator
- Excel invoice tracker
When it is a poor fit
- Large corporate customers with fixed payment runs. Many will pay on their own cycle regardless.
- Customers with approval chains that need more than 15 days.
- Public sector buyers, who often have their own terms.
- The term is on every document.
- Late fee wording is agreed.
- Reminder dates are in the calendar.
- You know which customers cannot meet it.
Last checked: 19 October 2026. General practice. Statutory rules on late payment differ by country.
Frequently asked questions
What does net 15 mean?
Payment is due 15 days after the invoice date.
Is net 15 enough time to pay?
For small, simple invoices yes. Corporate customers with approval chains may need longer.
What is the difference between net 15 and net 30?
The due date comes 15 or 30 days after the invoice. Net 15 gets the cash in sooner.
Can I charge a late fee on net 15?
Yes, if you stated it in the contract or on the invoice before the work. Check local limits on interest.
Should I use net 15 or due on receipt?
Net 15 gives the payer time to process. Due on receipt expects payment as soon as they see the invoice.