Net-7 Payment Terms
Definition:
Net-7 indicates that payments are made on a weekly basis.
Payments are processed every Wednesday for the earnings accrued in the previous week, specifically from Monday through Sunday.
How It Works:
Earnings Period: Your earnings are calculated for the period from Monday to Sunday.
Payment Day: The following Wednesday, you receive the payment for this period.
Example:
If you earned $200 from Monday, June 3rd to Sunday, June 9th, you will receive this payment on Wednesday, June 12th.
Net-30 Payment Terms
Definition:
Net-30 indicates that payments are made on a monthly basis.
Payments are processed on the first Wednesday following the end of the month.
How It Works:
Earnings Period: Your earnings are calculated for the entire month.
Payment Day: The first Wednesday after the month ends, you receive the payment for that month.
Example:
If you earned $600 in June, you will receive this payment on the first Wednesday of July