Hello Experts, We need to setup a customer payment term as follows. 50% invoice amount due after 30 days of issue and remaining 50% due after 180 days of issue. Can we create this type of term in NetSuite? any thoughts or suggestions?

Take a look at billing schedules, possibly installments.

I did this but for installment a set frequency need to be setup which restrict to fulfil this requirement.

Did you evaluate billing schedules? I provided installments as a backup feature that some similar functionality.

Will evaluate billing schedule.