SFM (factoring) plz help me

STUDENT (student) (267 Points)

30 June 2011

what is the meaning of 2/10 net 30 in factoring.

in one problem i read the sentence " the company credit policy os 2/10 net 30"

i can't understand the meaning of this

plz reply

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5 Replies

CA Sahil Singla.. (Service Tax ) (3746 Points)
Replied 30 June 2011

it means 2% discount for payment within 10 days . . . .maximum credit period is 30 days

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valji (Accounts manager-MBA) (2150 Points)
Replied 30 June 2011

AGREE WITH ABOVE

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STUDENT (student) (267 Points)
Replied 30 June 2011

thanks sahil & valji sir

also thanks for quick reply

Sunshine (Helping All) (10575 Points)
Replied 30 June 2011

means the credit period is of 30 days...but in case the payment is made within 10 days , 2% discount will be given...

1 Like

STUDENT (student) (267 Points)
Replied 30 June 2011

thanks sunshine

plz also see my reply on last topic post by me

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