lengthen payment terms vs prolong payment terms

Both phrases are correct and can be used interchangeably. They both mean to extend the period of time allowed for making payments. There is no significant difference in meaning between the two phrases.

Last updated: March 25, 2024 • 2270 views

This phrase is correct and commonly used in English.

"lengthen payment terms"

This phrase means to extend the period of time allowed for making payments. It is commonly used in business and financial contexts.

Examples:

The company decided to lengthen the payment terms to help their clients during the economic downturn.
We can consider whether to lengthen payment terms for this particular customer.
The supplier agreed to lengthen payment terms for the new contract.
It may be necessary to lengthen payment terms in order to maintain a good relationship with the client.
The decision to lengthen payment terms was made after careful consideration of the financial situation.

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:

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

This phrase is correct and commonly used in English.

"prolong payment terms"

This phrase also means to extend the period of time allowed for making payments. It is commonly used in business and financial contexts.

Examples:

The decision to prolong payment terms was made to accommodate the client's financial difficulties.
We may need to prolong payment terms for this project to be completed successfully.
The company is considering whether to prolong payment terms for all customers.
It is important to communicate with suppliers before deciding to prolong payment terms.
The decision to prolong payment terms should be based on a thorough analysis of the financial situation.

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:

lengthen payment terms
extend payment terms
stretch payment terms
increase payment terms
expand payment terms

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lengthen payment terms vs prolong payment terms