Set reseller company payment terms

Payment terms dictate the number of days customers have to pay invoices after the invoice date. Marketplace Managers can create, view, edit, and delete payment terms that appear on invoices to reflect the marketplace's standard terms, negotiated terms that appear in purchase contracts, and terms that reflect a company's positive or negative payment history.

This feature is marketplace-enabled. Contact your Marketplace Manager to request it. It must be enabled for the feature and the configuration settings to be available to you.

📝 Note: When Marketplace Managers create no payment terms, the system default of five days applies.

Payment terms are relevant when, for example, manual payment is enabled by Marketplace Managers for a company, which can result in unpaid invoices. They are also relevant when payment gateways decline customer payment instruments for recurring subscription payments, which results in unpaid invoices. In both cases, customers have until the due date to pay the invoices before they are overdue.

Some subscriptions suspend when invoices become overdue. The suspension grace period, which delays suspension, starts from the invoice due date, which is defined by the system default of five days or payment terms. For example, an invoice due January 10 with a five-day grace period results in the subscription suspending after January 15.

Marketplace Managers create and set the default payment term for marketplaces. They can also create additional payment terms that you can apply to Reseller companies, to override the marketplace default.

To set company payment terms

1. Go to Manage > Reseller > Partners > Reseller companies > {companyName}. The Company details page opens.
2. Click the Settings tab. The Billing settings appear. Definitions follow:
   Default payment term—The payment term that Marketplace Managers create and set as the default for the marketplace.
   Custom payment term—A payment term that Marketplace Managers create and can then assign at the company level to override the default.
3. Select Custom payment term, then click the arrows. The drop-down list displays payment terms that you can select for the company.
4. Select a payment term from the drop-down list. The payment term you select is saved as the new default payment term for the company.