Define: Net Amount
Net Amount means the gross total of an account or investment, deducting any returns, taxes, allowances, payments, credits, and associated costs
Net Amount means the gross total of an account or investment, deducting any returns, taxes, allowances, payments, credits, and associated costs.
Relevant Circumstances
- When invoiced or earned amounts must be calculated after permitted deductions
- If credits, returns and taxes are stripped out before payment
- Where contractual reporting hinges on a defined net figure