End of Month Terms (EOM)

End of Month Terms (EOM) is a payment term commonly used in the shipping industry. Under this term, the buyer is required to pay for goods or services within a specified number of days from the end of the month in which the goods or services were provided. For example, if the EOM term is 30 days, the buyer would have until the end of the following month to make payment. EOM terms are often used to provide flexibility in payment scheduling and can be beneficial for both buyers and sellers.