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Thread: cleared payment

  1. #1
    Hanka is offline Senior Member
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    Default cleared payment

    Hello,

    could you please tell me what "cleared payment" means in the following sentence:

    Payment in net cash or other cleared payment is due 30 days from the date of invoice.

    Does it mean cashless payment, bank transfer or something like that?

    Thank you very much.

    Hanka

  2. #2
    Ouisch's Avatar
    Ouisch is offline Moderator
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    Default Re: cleared payment

    They're referring to a payment made by means other than cash. For example, if someone pays by check, it usually takes at least five business days for it to "clear," that is, for the bank to confirm that the funds are available.

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