From Longman Business Dictionaryprice termsˈprice terms [plural]COMMERCE1in a sales agreement or contract, the price that the buyer must pay, and often showing how it is calculatedThe agency is prohibited from using price terms which are not industry standard.2if a price is given in relation to particular price terms, it is calculated using those prices as a guideCommodity prices increased in world price terms in May, the second consecutive monthly increase. → term
