Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

Search the Dictionary of Terms

Search Results: 1-1 of 1 result for “Prompt Payment Discount”

Prompt Payment Discount

A reduction in cost offered by the supplier in exchange for early/accelerated payment by the customer. See also: Payment Terms, Cash Discount, Discount.

See Also: Payment Terms, Cash Discount, Discount

Is there a term missing from our dictionary?

Does a more concise or relevant definition apply?

Submit your comments/suggestions to our editorial board at dictionary@nigp.org