Terms Extensions Without Payment Delays

Give your customers the flexibility to extend the due dates on their qualifying invoices while ensuring your cash flow cycle remains uninterrupted. This helps maintain positive customer relationships and allows customers to avoid late fees or potential impacts on their business credit.

This provides customers with multiple flexible payment options:

• Net 30 invoices can be extended by 30 or 60 days
• Net 60 invoices can be extended by 30 days
• Net 30 invoices can be paid via installment plans, with 30 or 60-day durations
• Net 60 invoices can be paid via installment plans, with 30-day durations

How it works?

1. Customers receiving invoices with a 100% advance rate and in good standing (no past due invoices) can always extend the due dates on their Net 30 or Net 60 invoices.
2. For partial advance rate invoices (75% - 90%), customers in good standing can extend the due dates on their Net 30 or Net 60 invoices as long as the invoice amount is $50,000 or less and the Advance Pay Usage limit under Settings > Usage has enough room available.

What happens to outstanding payouts for invoices where I received a partial advance?

For invoices where the advance rate is between 75% and 90% and the amount is $50,000 or less (point 2 under the "How it works?" section above);

• Once the customer extends the due date and the extension fee or first installment payment is processed and marked paid, you will receive the remaining balance of the invoice near the original due date.
• You’ll see a “Secondary Payout” in your invoice details and receive an email notification when this payout is processed.

How will my customers know if they can extend the due date on their invoices?

For qualified invoices, an "Extend due date" option will appear in the following places:

• The initial invoice notification email, and the reminder one day before the invoice is due
• The weekly and monthly statements will show which emails qualify for net term extensions
• The Invoices page of their dashboard will show an 'Extend due date' button next to qualifying invoices

What flexible payment options can my customers choose from? 

• Extending payment terms by 30 or 60 days 
• Paying via monthly installments with a 30 or 60-day duration 
• Paying via bi-weekly installments with a 30 or 60-day duration 

Important Points

• Customers can only extend the due dates on invoices where an advance has been received.
• Extending the due dates on partial advance invoices and receiving the remaining balance near the original due date will impact your Advance Pay Usage limit under Settings > Usage. 
• Eligible customers can extend the due dates by 30 or 60 days regardless of what term options are configured in your merchant account. For example, a customer could extend a Net 60 invoice by 30 days (to Net 90) even if you do not typically offer Net 90 as a term length.