Payment Terms Generator
Generate professional payment terms for your invoices in seconds — customised for Malaysian businesses.
Generated terms
the service provider issues invoices in MYR. Payment is due within 30 days from the invoice date. Accepted payment methods: bank-transfer, duitnow. Invoices not paid by the due date will incur a late payment charge of 1.5% per month (or part thereof) on the outstanding balance, compounded monthly. All amounts are in MYR. Any billing discrepancies must be raised in writing within 7 days of receiving this invoice. After this period, the invoice is deemed accepted. This agreement is governed by the laws of Malaysia.
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Create free accountWhat makes good payment terms?
Clear due date. Net 30 is the most common B2B payment term in Malaysia. If you work with small businesses or retail clients, Net 7 or Net 14 reduces your cash flow risk.
Late fee clause. A 1.5% per month late fee is the Malaysian standard and is legally enforceable under the Contracts Act 1950. It signals professionalism and discourages slow payers.
Accepted payment methods. Always specify exactly how you want to be paid. DuitNow QR is the fastest growing payment method in Malaysia — adding a DuitNow QR code to your invoice can significantly speed up payment.
Currency. If you invoice international clients, specify the currency clearly and whether bank charges are borne by the client.