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Due Date

What is a due date? Definition and meaning

The term “due date” defines a point in time by which a debt must be settled.

This can arise, for example, through a contract and ultimately be stated on the invoice. In addition to a contractual arrangement, the due date can also be based on statutory provisions.

If the agreed debt has not been settled by the defined due date, a default comes into effect. This enables the initiation of legal steps, such as issuing a payment reminder.

With digital receivables management you have all open invoices in view.

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Frequently asked questions

On what basis does a due date arise?
A due date can be based on a contractual arrangement, for example a contract, or on statutory provisions. The exact point in time is often stated on the invoice.
When does default occur with a due date?
If the agreed debt is not settled by the defined due date, default comes into effect. This allows legal steps to be initiated, for example issuing a payment reminder.
How do I keep track of invoices that are due?
With digital receivables management you keep all open invoices and their due dates in view.