What are PROX payment terms?
Prox is a term from the retail industry which means “next of month.” Invoices that do not meet the designated “cutoff” date for one month, would be paid in the next month.
What does prox mean?
Definitions of prox. adjective. in or of the next month after the present. “scheduled for the 6th prox” synonyms: proximo future.
What does 1% 10th prox net 25th mean?
2%/10th prox net 25thA 2% discount is allowed if paid on or before the tenth day of the month after the invoice date. Otherwise the entire invoice is due on or before the 25th day of the month after the invoice date. Otherwise the entire invoice is due on or before 30 days after the invoice date.
What do terms 2% net 30 mean?
2/10 net 30, defined as the trade credit in which clients can opt to either receive a 2 percent discount for payment to a vendor within 10 days or pay the full amount (net) of their accounts payable in 30 days, is extremely common in business to business sales.
What does prox 30 payment terms mean?
Prox is short for “proximo mense,” Latin for “in the following month.” EOM stands for “end of month.” A payment term of Net 30 prox indicates that payment is due on the 30th day of the next month.
What does terms net 10th prox mean?
payment is due on
“Net 10th Prox.” means payment is due on the 10th of the month following the month the invoice is da……
Is prox a word?
No, prox is not in the scrabble dictionary.
What is the meaning of 2/10 N 30?
2/10 net 30 is a trade credit offered by the seller to the buyer for their purchase. If a buyer is able to pay an invoice in full within the first ten days, they will receive a 2 percent discount on the net amount.
What does net 10th mean on an invoice?
Net 10, net 15, net 30 and net 60 (often hyphenated “net-” and/or followed by “days”, e.g., “net 10 days”) are forms of trade credit which specify that the net amount (the total outstanding on the invoice) is expected to be paid in full by the buyer within 10, 15, 30 or 60 days of the date when the goods are dispatched …