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000000202960 10-22-2013 04:29 PM

Supplier Payment Terms
 
We are in the process of extending our supplier payment terms from N30/N40 to N45. Is there any information sources out there on "typical" or "average" or "acceptable" terms for supplier payments? I am looking to provide my team with industry knowledge to assist them with their negotiations.

KatinaC 10-29-2013 04:59 PM

It is not clear to me from your question if you are offering your customers/clients Net 45 days terms or if your firm wants to achieve Net 45 terms of payment with your suppliers. Net 30 is the standard. If your firm wants payment faster, you could offer net 20 or net 15.


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