Generally, merchandise is sold on credit under terms such as 2/10, net 30, meaning the buyer may deduct 10% from the bill if he pays within 2 days or pay the full amount within thirty days.

Credit Terms

Conditions under which credit is extended by a lender to a borrower, including repayment timelines, interest rates, and penalties for late payments.

Net 30

A trade credit term indicating that payment in full is expected within 30 days after the invoice date or goods are received.