Credit Terms Credit Terms --Specify the length of time over which credit is extended to a customer and the discount, if any, given for early payment. For example, 7/10, net 30 Credit Period - The total length of time over which credit is extended to a customer to pay a bill. For example, net 30?requires full payment to the firm within 30 days from the invoice date 10-1010-10 Credit Terms Credit Period -- The total length of time over which credit is extended to a customer to pay a bill. For example, net 30?requires full payment to the firm within 30 days from the invoice date. Credit Terms -- Specify the length of time over which credit is extended to a customer and the discount, if any, given for early payment. For example, ?/10, net 30