Rabbi Elazar Leventhal Critiques 'Net 60' Payment Terms as Unfair to Workers

Rabbi Elazar Leventhal has criticized the common business practice known as 'Net 60' payment terms, where employees or contractors receive payment 60 days after completing their work. In a new video column, he argued that this system effectively forces workers to provide interest-free loans to their employers during the waiting period. Leventhal contrasted this with a Torah principle that mandates paying workers promptly on the day their work is completed, emphasizing a higher standard of honesty and fairness. He stated that a company's value should not be measured solely by its economic growth but also by its ethical treatment of employees. The rabbi called for adopting more straightforward and humane payment norms that respect workers' rights and dignity.