"Payment Terms" is a mandatory free text field found on an invoice which defines when it should be settled after issuance. In Navarik, payment terms are added during invoice creation by the inspector and drive invoice due date timing. In the event that an invoice is disputed by the cargo company, the inspection company has the ability to adjust the payment terms as needed.
Payment Terms Basics:
1. Only the Inspection Company can set payment terms when creating an invoice (agreed between the vendor and the cargo company)
2. If an invoice is disputed by the cargo company, the inspection company can adjust the payment terms. Depending on the selection they make from the drop-down, the invoice due date (column found on the invoice viewall) could change, or it could stay the same.
Due Date Calculation:
Payment terms specify how the invoice due date (column on the invoice viewall) is calculated and reflected:
a. Days from Delivery Date
Invoice Due Date = Blank
b. Days from Invoice Date
Invoice Due Date = Number of days selected + Invoice Date
c. Days from Invoice Submission Date
Invoice Due Date = Number of days selected + Invoice Submission Date
