“Due upon receipt of invoice” signifies a payment condition where the sum specified on an invoice is obligated upon its delivery. For instance, a retail invoice bearing this term commits the customer to settle the balance immediately upon its reception.
Invoking “due upon receipt of invoice” terms streamlines accounting and cashflow management by expediting payments. Its origins trace back to the mid-1800s, when it gained prominence in trade transactions, and remains prevalent in finance to date.