A payment terms clause in your Terms and Conditions agreement is where you disclose details such as how your business will process transactions electronically, what forms of payment you accept and what happens if the buyer cancels a transaction

Payment terms clauses can help mitigate the risk of non-payment, provide protection against chargebacks, or leverage your intellectual property rights by restricting access to content until after the customer has paid

Including payment terms in your Terms and Conditions will help protect your business and avoid disputes that could arise from a lack of clarity around these issues. Payment terms are the terms that govern the payment portion of a sale. They govern specific details such as the type and amount of payment expected, discounts offered, how the buyer can make the payment, under what conditions your company may assess late charges and more