This is illustrated by such terms as "1/10, net 30" of "2/10, net 60." The two specified time elements are the cash discount and the net credit period. The cash discount may be deducted if the bill is paid within the discount period (10 days in both examples); otherwise, the full amount is due at the end of the credit period (30 and 60 days in the examples given). Both the cash discount and the net credit periods are usually counted from the date of the invoice. Source: AMA
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