Payment Terms for Vendors

Unless otherwise noted, the University’s payment terms for vendors are Net 30.  Accounts Payable, makes every effort to take available discounts when invoices are received within the time period specified.  If you see an invoice indicating payment terms other than immediate payment send these invoices directly to Accounts Payable as soon as possible so that Temple can take advantage of the discount.

  • Payment or “Net” terms mean that the invoice must be paid in full without discount on or before the due date specified on the invoice.

  • Net 15 - The total invoice is due within 15 days of the invoice date.

  • Net 30 - The total invoice is due within 30 days of the invoice date. 

  • Net EOM - Full payment is due on or before the end of the month that the invoice is dated.

  • Immediate Payment Terms -   There are several terms used that specify that the payment is due immediately.  “Due on receipt” is very common, but may be stated in others words, including “Upon Receipt”, “Payable upon Receipt”, or “Cash on Delivery”.