When is the legal paid date for an invoice that you charge to a credit card?
Question Details: Can they say it's not paid until the funds are deposited into their bank and then wait 2 more days for it to clear at their headquarters? Or is the invoice paid the date that they charge your credit card? This relates to a branch company that we purchase inventory from. They have net 30 terms on their invoices.
Ordinarily custom and practice in the industry with respect to a credit card payment charge, such happens when the credit card is actually charged for the purchase of the given item unless there is a written agreement between the vendor and the client stating something to the contrary.
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