These are the conditions you negotiate for payment of your invoices, such as "net 30" (or payment due in 30 days).
In the list business, it is customary to remit payment within 30 days of mail date, unless other arrangements are made in advance and approved by the list owner or their agent.
Terms under which buyer will pay seller for purchases. Payment terms may range from cash-in-advance to open account with extended payment terms such as payment 120 days from date of purchase. A common term is 2/10, N/30: 2% may be deducted from the face amount of the invoice if paid within 10 days, or the invoice must be paid in full in 30 days.