When is the legal paid date for an invoice that you charge to a credit card?
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When is the legal paid date for an invoice that you charge to a credit card?
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.
Asked on January 5, 2013 under Bankruptcy Law, Hawaii
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
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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