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I have created a template for invoices.

I have setup everything in Spanish, but when payment term is "immediate" I see "Immediate Payment" in the generated PDF.

What should be done to translate that term, specifically, which "name field", "language" and "type" should be choosen in Settings -> Translations -> Application texts?

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good question... I've tried with _(inv.payment_term.name) but still get this in english. There must be something related to context... I don't know yet.