"Net 60" is a payment term commonly used in business transactions. It means that the buyer has 60 days from the invoice date to pay the full amount owed. This arrangement allows businesses to manage their cash flow more effectively, giving them time to receive payment without immediate financial pressure. This term is often seen in contracts and invoices, especially in industries like wholesale and manufacturing. By offering Net 60 terms, sellers can attract more customers who may need extra time to pay, while still ensuring they receive payment within a reasonable timeframe.