2/10 Net 30 is a popular payment term in the business world. It is a type of trade credit that is used to facilitate sales and purchases. Essentially, it is a payment term that requires the buyer to pay for the goods within 30 days, but receive a discount if they pay within 10 days. This allows the buyer to get a better deal while still giving the seller the assurance of payment. It is a very common payment term in the business world and is a great way to incentivize customers to pay quickly.
The official business definition of 2/10 Net 30 is a method of payment that offers buyers a discount if they pay within 10 days of the invoice date. The payment term requires the buyer to pay for the goods within 30 days, but if they pay within 10 days, the buyer will receive a discount of 2% from the original price.