Overview
Net terms represent the agreed-upon payment timeline between you and your customer (e.g., Net30, Net60, etc.). These terms define when payments are due after an invoice is approved. While PaymentWorks facilitates secure connections and transaction management, we do not have the authority to adjust net terms.
Key Details About Net Terms
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Customer-Defined Terms
- Net terms are established between you and your customer as part of your contractual agreement.
- PaymentWorks reflects these terms during registration but does not have the ability to modify them.
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Adjusting Net Terms
- If you need to update or renegotiate your net terms, please contact your customer directly. They are responsible for defining and managing these terms in alignment with your agreement.
EarlyPay: An Optional Payment Acceleration Feature
While PaymentWorks cannot adjust your net terms, we offer the EarlyPay feature for select customers, which allows you to receive payments before the agreed-upon net terms in exchange for a small fee.
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How EarlyPay Works:
- Once an invoice is approved, you can choose to receive payment earlier than the net terms.
- Fees are based on a sliding scale, determined by how soon the payment is made after invoice approval.
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Benefits of EarlyPay:
- Flexibility: Access funds faster to support your cash flow needs.
Next Steps for Adjustments
- For Net Terms: Reach out to your customer directly to discuss or request any changes to your payment terms.
- For EarlyPay: Log in to your PaymentWorks account to explore whether EarlyPay Accelerated ACH is offered to you.