Payment Terms and Invoice

Have you sent an invoice to your customer? Then, after receiving the invoice, the customer must settle the claim within the agreed period. Unfortunately, claims are often left unpaid. As an entrepreneur you don’t want this to happen. Therefore, it is wise to make clear agreements with you counterparty, prior to the agreement/transaction and to record these agreements in the general terms and conditions. The maximum payment term that can be agreed upon is 60 days.

A longer payment term can only be agreed if your counterparty is not a very large company, such as an MBK or a freelancer. If you didn’t make any agreements with your counterparty about the period, a legal payment term of 30 days applies to companies and the government. If you did make use of general terms and conditions, you also must make the terms and conditions available to your customer correctly. How to do that you can read in our blog: General conditions: what you need to know about it.