Payment terms

Payment terms type: core:PaymentTermsType

Definition

The terms of payment established for this order.

Business rules

BR-29 : Only the SCSN PaymentTerms sub elements SHOULD be implemented in UBL

Usage notes

• When this element is used, the receiver of a message (e.g. Order) should check and evaluate if the payment terms are in agreement with or differ from contractual agreements between parties.
• Payment terms can be used in particular to specify a payment discount that applies when payment is done within the settlement period. The discount can be specified as an amount or percentage.

XML mapping

cac:PaymentTerms

Example

<cac:PaymentTerms>

<cbc:ID>124</cbc:ID>

<cbc:Note>[Additional information on payment terms]</cbc:Note>

<cbc:SettlementDiscountPercent>5</cbc:SettlementDiscountPercent>

<cbc:SettlementDiscountAmount currencyID="EUR">100</cbc:SettlementDiscountAmount>

<cac:SettlementPeriod>

<cbc:StartDate>2016-10-25</cbc:StartDate>

<cbc:EndDate>2016-11-25</cbc:EndDate>

</cac:SettlementPeriod>

</cac:PaymentTerms>

Remark

Contains sub-elements.