What does due date mean?

Due date usually refers to the day the invoice must be paid at the latest.
This is a commonly known standard, also recommended by the Finnish Competition and Consumer Authority. In other words, due date is not the date when you should expect the payment to be on your own bank account. 

Due to the bank delay, it might take up to few days before the money of an invoice that has been paid on its due date will show in your bank account.
The recommendation for payment terms in consumer invoices is adviced to be set to 14 days.

For a consumer client, due date always refers to the date during which the payment must be made at the latest. With companies, this is always based on the delivery and payment terms, which can be set as agreed.

The most important thing is to keep in mind that due date does not mean the date when the payment is in your bank account.

See also:
Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.