What does the payment term net 5th of 3rd month mean?

The payment term "net 5th of 3rd month" means that payment is due on the 5th day of the third month following the invoice date. For example, if the invoice is dated in January, the payment would be due on March 5th. This term gives the buyer additional time to settle the invoice compared to standard net payment terms, which typically require payment within a month.