Payment Terms

The agreed conditions for when and how a client or customer pays, including timeframe (e.g., Net 30), payment method, and any early payment discounts or late fees.

Poor payment terms destroy cash flow. If you invoice on completion with Net 60 terms and clients pay late, you may be profitable on paper but genuinely broke in your bank account.

"50% deposit upfront, balance due on project completion. Payment within 14 days. Late payment incurs 8% interest under the Late Payment Act 1998." Clear, professional, legally backed.