Payment term
The payment term is the time stated on the invoice for payment; absent an agreement the claim is due immediately on invoicing, and the widespread 30 days are a custom rather than a statutory rule.
Definition
Legally more than politeness hangs on the date: if a specific due date was agreed, the customer is in default when it passes, without a reminder. If the invoice says only «payable within 30 days», a reminder is needed for default to arise — and default interest only runs from default.
For liquidity the term is the most effective lever a business holds itself. Ten days shorter means money ten days earlier, without one franc more turnover.
Where to read it
What the software must be able to do
The software should hold payment terms per customer rather than only globally, show the due date on the invoice, and calculate the maturity in open items from it. Discount deadlines belong in the same field.
Checked Aug 2026
More terms under Invoicing, payment and banking: Advance payment Allowance for doubtful debts Bad debt camt.053 Cancellation invoice Cash discount Certificate of shortfall Credit note Creditor Current account Debt enforcement Debtor Default interest Delivery note Dunning eBill Final invoice IBAN Invoice number ISO 20022 / camt Open items pain.001 Part payment Pro forma invoice QR reference QR-bill QR-IBAN Quotation Receipt Tips TWINT as a payment method Visitor taxes