336 Terms Type Code

Code identifying type of payment terms.

Type
Identifier (ID)
Length
Min 2 / Max 2
Codes
CodeDescription
01Basic
02End of Month (EOM)
03Fixed Date
04Deferred or Installment
05Discount Not Applicable
06Mixed
07Extended
08Basic Discount Offered
09Proximo
10Instant
11Elective
1210 Days After End of Month (10 EOM)
13Seller to advise buyer
14Previously agreed upon
15Special Proximo
16Prompt Payment Act
17Terms not Applicable
18Fixed Date, Late Payment Penalty Applies
Sales terms specifying a past due date, and a late payment percentage penalty applies to unpaid balances past this due date
19Liquidation
Term at which the progress will be liquidated before the final payment is made to the contractor
20Progress Payment
Term at which progress payments are authorized by the terms of the contract
21Fast Pay
Code indicating that an invoice is subject to accelerated payment
22Cash Discount Terms Apply
Contract terms specify that a cash discount is applicable
23Payment Due Upon Receipt of Invoice
24Anticipation
A discount allowance given when an invoice is paid before its due date (anticipation = (agreed rate/365) x invoice amount x number of days early)
ZZMutually Defined

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