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    Tecnova's Avatar
    Tecnova Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 5, 2016, 08:20 AM
    Payment terms of 1% 10, net 30 days
    Payment terms of 1% 10, net 30 days - our system deducts the discount when checks are issued within the 10-day time, and mailed the same day. Our vendor is not honoring the discount because they didn't receive our payments within the 10-day time. Is this correct?
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
    Uber Member
    		  
    #2

    Apr 5, 2016, 10:45 AM
    Your agreement with them should address the 10 day. 10 from payment/mailing or rec'd by 10 days. We don't know the terms of your agreement.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #3

    Apr 5, 2016, 03:28 PM
    Their intrepretation would be the commercial norm.
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