Data Model
Payment Terms
Definition
Payment terms specify the period and conditions under which an invoice must be settled. In electronic invoices under EN 16931, payment terms are structured in BG-16 (Payment instructions), including the due date (BT-9), payment means (BT-81), discount/early payment terms (BG-29), and payment reference (BT-83). Clear payment terms are important for automated processing and timely payment.
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Related terms
IBAN (International Bank Account Number)The IBAN (International Bank Account Number) is an internationally standardised account number (ISO 13616) that combines a sort code and account number in a uniform format. In Germany, the IBAN consists of 22 characters (DE + 2 check digits + 18-character BBAN). On electronic invoices, the payee's IBAN is specified in BT-84 when bank transfer is selected as the payment method.BIC (Bank Identifier Code)The BIC (Bank Identifier Code), also known as the SWIFT code, is an international bank identification code (ISO 9362) that uniquely identifies a bank or financial institution worldwide. It consists of 8 or 11 characters. On electronic invoices, the BIC can be provided in BT-86. Within the SEPA area, the BIC has not been mandatory for private individuals making IBAN transfers since 2016.Business Group (BG)A Business Group (BG) groups semantically related Business Terms (BT) of the EN 16931 standard into a logical unit. Examples include BG-4 (Seller), BG-7 (Buyer), or BG-23 (VAT breakdown). Business Groups can be nested and provide a structured organisation of the invoice data model.EN 16931EN 16931 is the European standard that defines the semantic data model of a core invoice. It specifies the mandatory and optional fields (Business Terms), their meaning, and the validation rules that apply to all conforming electronic invoices in the EU. Nationally implemented standards such as XRechnung, ZUGFeRD (EN 16931 profile), and Factur-X must comply with this standard.