By now we’re sure you’ve heard the term ‘net terms’—whether it was from buyers asking for more time to pay for goods or just in or around the wholesale industry, it’s a hot topic and we’re here to break it down for you. Here’s what you need to know about net terms:
By definition, net terms are deferred payment periods offered to clients seeking to delay their payment for goods or services. The time frame of the net terms indicates when the seller can expect full payment for the service or product they provided.
With JOOR Pay, we’re providing brands with the opportunity to offer their qualified buyers 60-day net terms at no upfront cost to the brand. This means a retailer has up to 60-days to pay their total invoice, while the brand receives their payment immediately. When buyers eventually pay off the net terms at day 60, the full amount is returned to their available balance and they can continue to pay for more orders using the buy now, pay later structure. It’s a service we’re proud to offer because it improves the cash flow for both our clients and their buyers. Making their lives easier and helping their businesses grow is a top priority at JOOR.
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Brands: Get started with a JOOR Pay application today.