A person or firm that is designated as the intended recipient of funds paid towards documents such as invoices and purchase orders.

2/10 Net 30
An example of a trade credit offered by a supplier or seller. The buyer or customer recives a 2% discount if they pay the full invoice amount within 10 days. Otherwise, the full balance is due in 30 days.

3PL Company
“Third-Party Logistics” – a partner or service that provides outsorced logistics and supply chain services such as storing or shipping goods.