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Simple English definitions for legal terms
E.O.M.
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A quick definition of E.O.M.:
Term: E.O.M.
Definition: E.O.M. stands for "End of Month." This means that a payment is due at the end of the month. It is often used as a payment term in sales contracts.
A more thorough explanation:
Definition: E.O.M. is an abbreviation for "End of Month". It is commonly used as a payment term in sales contracts.
- The invoice is due on E.O.M.
- We will pay the balance by E.O.M.
These examples illustrate how E.O.M. is used to indicate the deadline for payment at the end of the month. For instance, if an invoice is due on E.O.M., it means that the payment must be made by the last day of the month. Similarly, if a balance is to be paid by E.O.M., it means that the payment must be made before the end of the month.