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In its profile of Wilkins, Lloyd’s List notes: “After 25 years of giving advice on financings and investment, Rob Wilkins, a partner in its Transportation Industry Group, is widely hailed as one of the leading shipping transactional lawyers of his generation. While his clients do include shipowners, commodity traders, shipmanagers and banks, he is even better known for acting for an impressive roster of private equity and hedge funds.”

Wilkins, the former chair of Reed Smith’s Transportation Industry Group, has also been an integral part of the firm’s leadership for more than ten years. He is recognised for his extensive experience advising on complex financings, investments, restructurings, and high-value maritime transactions.

This accolade follows Reed Smith’s continued recognition for excellence in maritime law. Last year, Antonia Panayides was included in the Top 10 Maritime Lawyers list for her impactful role in addressing some of the industry’s most pressing decarbonisation challenges, particularly as shipping faces evolving environmental and regulatory demands. In 2023, Leigh Hansson was featured for her work on matters involving shipping sanctions, earning her the distinction of being “arguably the best-known name in the specialism.”

Reed Smith has advised the shipping industry for more than a century, offering comprehensive guidance on both contentious and non-contentious issues. The practice includes more than 100 lawyers, among them former master mariners, and operates from major global shipping hubs including London, Hong Kong, Singapore, Houston, New York, Paris, and Athens.

About Reed Smith

Reed Smith is a dynamic international law firm dedicated to helping clients move their businesses forward. With an inclusive culture and innovative mindset, we deliver smarter, more creative legal services that drive better outcomes for our clients. Our deep industry knowledge, long-standing relationships and collaborative structure make us the go-to partner for complex disputes, transactions, and regulatory matters.

For more information, please visit reedsmith.com.

The net terms on invoices your company receives aren’t just payment deadlines—they directly impact your working capital and vendor relationships.

Paul Kizirian, Executive Director for Treasury Consulting at J.P. Morgan, explains how invoice payment terms work, why accounts payable (AP) automation is key to capturing early payment discounts and shares strategies for optimizing working capital while meeting terms.

Net terms represent the payment timeline within trade credit agreements between vendors and buyers.

They’re commonly expressed as net 30, net 60 or net 90, and give buyers 30, 60 or 90 days, respectively, to submit payment for the net—or full—amount invoiced.

While net 30 is a particularly common invoice payment term, vendors and buyers tailor terms to their operational and cash flow needs.

A vendor that wants to incentivize faster payment may offer an early payment discount. For example, 2/10 net 30 means the buyer receives a 2% discount if they pay within 10 days. Otherwise, the full amount is due in 30 days. The buyer can’t claim the discount if they are slow to process invoices and cannot pay within the 10-day time frame.

Invoice payment terms influence working capital and supplier relationship management.

Shifting from net 30 to net 60 lets buyers hold cash twice as long, extending Days Payable Outstanding (DPO), which provides a direct working capital benefit. But it has the opposite effect on vendors by delaying their receivables, extending their Days Sales Outstanding (DSO). Vendors prefer to minimize DSO within their accounts receivable.

Negotiating terms should include discussing early payment discounts as a strategy that helps buyers and vendors balance their working capital needs.

“If the buyer can consistently capture discounts, the bottom-line savings can be significant. Terms are very important yet often overlooked,” Kizirian said.