Payment conditions refer to the TERMS and conditions that must be met in order for a payment to be made. These conditions can vary depending on the type of payment, the amount of money involved, and the parties involved. Payment conditions are often outlined in contracts or agreements between two or more parties. They can include things such as when the payment is due, how much is due, and what form of payment is accepted. Payment conditions are important to ensure that all parties involved are aware of their obligations and responsibilities.