Question

the atrangements netween buyer and seller advto when pauments for the merchandise are to be made are called

Answer 1

The arrangement between buyer and seller as to when payments for the merchandise are to be made are called Credit Terms. Credit Terms are the terms that states when payment is due for the sales made on credit. For example, the credit terms may be 2/10 net 30, which implies that amount will be due in 30 days, but if amount is paid in 10 days, 2% discount will be allowed to the customer.

Thus, Credit Terms are the agreement between a seller and a buyer that provides the time period and amount of payments to be made by the customer in future.