> For the complete documentation index, see [llms.txt](https://learn.erpag.com/project/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://learn.erpag.com/project/products-and-services/customers/terms-of-payement.md).

# Terms of payment

Terms of payment are used to specify the period of time to a buyer to pay off the amount due.

You can set up the terms of payment by going to Sales > Terms of payment.

Here you can see that ERPAG is already offering you three types of different terms:

* NET 7 - payment is expected in 7 days
* NET 30 - payment is expected in 30 days
* 5 monthly installment - payment is divided in 5 monthly installments

By using the 'Add new' option, you can create as many different terms of payment as you need

![](/files/-LIpYPrFlow3QfAmGCm1)

The created terms of payment you can add from within the customer and it that case, that will apply always for that customer.

![](/files/-LIpd5MRcKGcv4oPe2Zi)

If you add it from the sales order, it will apply only for that particular sales order.

![](/files/-LIpdUtCit4l8-yT92_h)

You can always change the terms of payment by choosing a different one from the drop down menu.

### EARLY PAYMENT DISCOUNT

If you agreed with your customers to give them specific payment terms, but you want to issue a discount to them if they pay before the due date, you can set them up in the early payment discount section:

![](/files/-LUA7Z6N9OQpxJiLhrvq)

To read a more detailed explanation of this option, go to:

<https://blog.erpag.com/2018/11/early-payment-discount.html>