The clause you provided states that any payment under the agreement is not due until at least 30 days after the date of the invoice. Let's break it down for clarity:
Date of Invoice: This is the date on which the invoice is issued by the party providing goods or services.
"Not less than 30 days after the date of invoice": This phrase means that the payment due date will be a minimum of 30 days after the date of the invoice. In other words, the payer has at least 30 days to make the payment.
So, to provide an example:
If an invoice is issued on January 1, the payment would not be due until at least January 31 (30 days after the date of the invoice).
The payment due date could be later than 30 days, depending on the terms of the agreement or invoice, but it must be at least 30 days after the invoice date.
In summary, this clause ensures that the party receiving the invoice has a minimum of 30 days to make the payment, but the actual due date might be later, depending on the terms specified elsewhere in the agreement.