increase payment terms vs lengthen payment terms

Both phrases are correct, but they are used in slightly different contexts. 'Increase payment terms' is commonly used when referring to extending the duration of payment, while 'lengthen payment terms' is less common but still correct. The choice between the two depends on the specific context and the preference of the speaker.

Last updated: March 25, 2024 • 677 views

This phrase is correct and commonly used when referring to extending the duration of payment.

"increase payment terms"

This phrase is used when you want to extend the period during which a payment should be made.

Examples:

The company decided to increase payment terms from 30 days to 60 days.
We can consider increasing payment terms to help with cash flow.
The client requested to increase payment terms for the project.
It might be beneficial to increase payment terms for our suppliers.
The vendor agreed to increase payment terms for the order.

Show examples from the web [+]

Standard payment terms were 20 calendar days.
So we have a model that does not increase payment costs.
In this case, the payment term offered by the distributor is relevant for the user.
From that date until September 1995 the agreement extended to the fixing of payment terms.
However, in some cases, these SG&A expenses might include financial expenses, deriving from the abovementioned payment terms.
We'll discuss the payment terms later.
Payment terms in business transactions are a priority issue for the proper functioning of the European economies.
increase payment appropriations required for the EU assistance in the Balkans;
Madam President, ladies and gentlemen, the Swedish Presidency has criticised the Committee on Budgets for wanting to increase payment appropriations in the current circumstances.
That is why I will support the proposal to increase payments appropriations to 0.99%.of EU GNI.
However, it was not possible to verify that payments made under the "open account" system were made in accordance with any agreed payment terms.
In addition, customers in the Community traditionally pay for the goods in hard currency and with shorter payment terms.
(b) the delivery and payment terms.
Suppliers imposed stricter payment terms at a time when Bull's access to bank guarantees had almost dried up.
These costs shall be paid in accordance with the payment terms set out in Chapter I, Section E of this Annex.
Abusing their significant market share and dominance, large multinational companies force their domestic partners into contracts stipulating 90 or 120 day payment terms, with possible notional sanctions if missed.
The recast directive in fact lays down categorical payment terms and appropriate penalties to encourage prompt payments within the Union by both public authorities and private companies.
By that I mean the Commission's promise to third countries about fixed payment terms and sums which was made without any legal basis.
It is therefore good that the Commission now wants to increase payments and reform the work in the direction of more modern, efficient and open management.
In this connection, it is clear from Title 11 of Section III of the draft budget that the Commission has sought to slightly increase payment appropriations (when the reserves are taken into account).

Alternatives:

extend payment terms
prolong payment terms
stretch payment terms
lengthen the payment period
expand payment terms

This phrase is correct but less commonly used compared to 'increase payment terms'. It conveys the idea of extending the duration of payment.

"lengthen payment terms"

This phrase can be used when you want to convey the idea of making the payment period longer.

Examples:

The supplier agreed to lengthen payment terms for the new contract.
We are considering whether to lengthen payment terms for our customers.
It may be necessary to lengthen payment terms to accommodate the client's needs.
The company decided to lengthen payment terms to improve cash flow.
Negotiations are ongoing to lengthen payment terms for the project.

Show examples from the web [+]

Standard payment terms were 20 calendar days.
In this case, the payment term offered by the distributor is relevant for the user.
From that date until September 1995 the agreement extended to the fixing of payment terms.
However, in some cases, these SG&A expenses might include financial expenses, deriving from the abovementioned payment terms.
We'll discuss the payment terms later.
Payment terms in business transactions are a priority issue for the proper functioning of the European economies.
However, it was not possible to verify that payments made under the "open account" system were made in accordance with any agreed payment terms.
In addition, customers in the Community traditionally pay for the goods in hard currency and with shorter payment terms.
(b) the delivery and payment terms.
Suppliers imposed stricter payment terms at a time when Bull's access to bank guarantees had almost dried up.
These costs shall be paid in accordance with the payment terms set out in Chapter I, Section E of this Annex.
Abusing their significant market share and dominance, large multinational companies force their domestic partners into contracts stipulating 90 or 120 day payment terms, with possible notional sanctions if missed.
The recast directive in fact lays down categorical payment terms and appropriate penalties to encourage prompt payments within the Union by both public authorities and private companies.
By that I mean the Commission's promise to third countries about fixed payment terms and sums which was made without any legal basis.
And when hodge jotted down, "p.s. Agreed to payment terms,"
In these circumstances, there was no reason to assume that contractual payment terms were a factor taken into account in the determination of the prices charged and therefore the claims were rejected.
In addition, Poland explained that pricing and payment terms concerning fuel are proposed by the suppliers taking into account market conditions, e.g. the declared volume of the product to be purchased.
MEPs in the committee are worried that the present credit crunch may disproportionally affect SMEs as larger customers put pressure on smaller suppliers to grant extended payment terms.
In section 3.10 of the undertaking, the companies undertook to calculate the MRP on 'cash' or equivalent payment terms, i.e. with zero credit granted to the customer.
'The contract shall also indicate the delivery stage to which the price referred to in point (f) applies and the payment terms.

Alternatives:

extend payment terms
prolong payment terms
stretch payment terms
increase payment terms
expand payment terms

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increase payment terms vs lengthen payment terms