User of Day Limit in Payment Terms

Dear MM Guru,

I know tcode OBB8 to create the payment , in that I am unable to understand the day limit filed purpose through the F1 help. Please given an example what is the use of day field.

For example:

Payment Term No of days Description
40DD 40 15 Days from Date of Dispatch

MM Consultant, needs help regarding of Day Limit in Payment Terms “

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