Definition

1. Noun:
   • An order that is received without payment; requires billing at a later date: A commercial transaction where goods or services are supplied immediately, but the payment is deferred to a future date, typically after an invoice is sent.

Usage

• Noun:
  • The company processed the credit order and shipped the parts immediately, sending an invoice for payment within 30 days.
  • For new customers, we require prepayment, but established clients can place a credit order.

Advanced Usage

• "to place a credit order": to request goods or services with the agreement to pay later.
  • The purchasing department was authorized to place a credit order for the new office furniture.

Variants and Related Words

• Credit sale (n): A sale made on credit terms.
  • The transaction was recorded as a credit sale in the ledger.

Synonyms

• Deferred payment order: An order where payment is postponed.
• Billable order: An order that will be invoiced.

Related Phrases

• On credit: Describes the method of purchasing.
  • We bought the equipment on credit.

Noun

1. an order that is received without payment; requires billing at a later date