Fodder. Fodder or animal feed is any agricultural foodstuff used specifically to feed domesticated livestock, such as cattle, goats, sheep, horses, chickens and pigs. Most animal feed is from plants, but some is of animal origin.
Credit Period. The period of time during which a firm grants credit to a customer. At the end of the credit period, the customer is expected to have paid for all goods or services he/she has purchased.
Credit terms are simply the time limits you set for your customers' promise to pay for their merchandise or services received. But for many small business owners, establishing credit terms can be cumbersome. When customers purchase your merchandise or services, you expect them to pay within a specific period of time (generally, 30 days). As a result of this promise, you agree to give up an immediate cash inflow until a later date. The credit terms of most businesses are either 30, 60, or 90 days. However, some businesses may have credit terms as short as 7 or 10 days. Often a business's credit terms are dictated by an industry standard, or by its competition. While building a credit policy that works is a very important topic, creating the credit terms for your business has a direct influence on your cash flow.