Is this method acceptable or should we be counting out exactly 120 DAC to establish the due date? In the scenario above, if we actually counted out 120 days out from July 21 the due date would fall on November 18, 2015.
You should count out the days to account for months that do not have 30 days. Contract terms rely on precision, and assuming that every month has 30 days does not take this variability into consideration.
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