Construction Glossary
Credit Terms
The conditions under which financing is provided, including repayment periods. For example, materials financing may offer up to 120-day repayment terms
What Are Credit Terms?
Credit Terms are the conditions under which credit is extended to a borrower or customer. They specify the repayment schedule, interest rates, and any other terms related to the use of credit. In construction, credit terms can affect the cash flow and financial management of projects by determining how and when payments are made.
Example
Conditions under which a supplier extends credit to a builder.