As a freelancer, you will often order some services that will help your business. However, sometimes you will overdue with your payment. Have you ever look in your payment bill and see the phrase “net60”?
What is Net60?
Net60 represents a term in contracts or invoices that indicates on bills that customers have 60 days remaining to pay their overdue bills. In this way, the seller wants to explain when and how customers should pay the invoice.
Due Dates and the Law for the bills
In some cases, customers are bound to get their bills paid within a certain amount of time. This may be said true for government or government-related contracts or contracts in certain jurisdictions. So, for example, it is important to pay off your client in New York City as soon as possible after they do the services.
It is fair enough to know about the law where you are doing your business to help you in billing practices. Every state has different laws for different billing sections.
After leaving Wells Fargo Bank in 2014, Daniel began a career as a finance consultant, advising companies and individuals on economic policy, labor relations, and financial management.
At Promtfinance.com, Daniel writes about personal finance topics, value estimation, budgeting strategies, retirement planning, and portfolio diversification.
Read more on Daniel Smith's biography page.
Contact Daniel: daniel@promtfinance.com