# What is prox 60 payment terms?

A "Prox 60" payment term means that the clock on invoice aging starts at the end of a given month rather than upon actual receipt of the invoice. Example: ACME… Widget's AR department invoices customer SlyFox, Inc. weekly for goods and services performed the week before. ACME invoices SFI on Jan 7, 14, 21 and Jan 28. With a Net 60, the invoices would each be due no later than 60 days from the issue date. So, (basically) March 7, 14, 21 and March 28. With a Prox 60, all four invoices are due no later than March 31, because the 60 day payment "clock" for any January invoice doesn't kick in until January 31. Prox 60 is a pretty sweet deal for a buyer. Simplified AP and what amounts to a Net 85 term for early month billing. Because of this, Prox 60 is hard to come by and the savvy business provider will either avoid it altogether or will adjust pricing and other contract terms accordingly. Hope this helps.

# What does Net 30 Prox mean?

The phrase Net 30 prox is used in the accounting field. It means that a buyers payment is due 30 days from the day they receive the shipment.

# What is net 15th prox?

Due the 15th of the next month after delivery.

# What is Net tenth prox?

Clarification -- prox is a shortned form of the latin proximo,meaning next (not approxmate as is commonly beliexed.) So, Net 10thProx menas that payment in full is due ON the …10th of the next(proximo) month.

# What are prox 30 payment terms?

dUE 30 DAYS FROM THE END OF THE MONTH

# What are terms for net 30 payment?

Payment is due in 30 days with no discount

# What are payment terms 15-15 Net Prox 1.2?

15-15 Prox 1.2 payment terms means that any product shipped/received from the 15th of one month to the 15th of the next month will be paid on the 2nd month of the 2nd da…y. For an example, anything shipped between July 15 ~ Aug 15 will be paid on October 2. It would be similar to Net 45 ~ 75 days. Items shipped on Aug. 15 would get paid in 45 days and items shippped on July 15 will be paid in 75 days. It behooves you to ship as much as close to the 14th as possible.

# What is 2 15th prox net 30 terms?

The term 2 15th prox net 30 terms is an accounting term indicating when payment is due. The payment for this would be that half is due on the 15th of the month and the bal…ance due in 30 days.

# What are Payment terms Net 45 PROX?

45 days from the end of the current month.

# What is fifth third prox payment terms?

To put this simple.. usually (you can double check with the company) when an invoice is put in these terms it means that the amount owed is due by the 3rd of the following… month, but the company is allowing until the 5th to receive payment. This is two extra days before they begin to charge late fees. 5th 3rd prox means you pay the invoice on the 5th day of the 3rd month following receipt of the invoice. The average is 83 days.

# What prox 45 payment terms?

This is really odd for me to see, usually when a company uses "prox" it's for dates, such as 1-30 (days of the month). From what I've seen however, Prox 45, may mean t…hat the payment is due with-in 45 days of the invoice date. Prox standing for Proximo, which literally means, Of or in the following month {or} in or of the next month after the present; "scheduled for the 6th prox"

# What does prox 25 mean in pay terms?

prox is short for Proximo, meaning in or of the following month. Generally speaking prox 25 usually means payment is due on the 25th day of the following month. For example,… you receive your bill/invoice dated October 15, the payment is due before or on November 25.

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# What is payment terms of 2 percent 15th prox net 25?

Usually 2 % 15th prox net 25 means, if you pay by the 15th of the following month you can take a 2% discount, net 25 means the full amount is due by around the 25th of the mon…th. Many companys offer this small discount to customers to encourage to pay early. 2% may not seem like much, but if you are a company, buying from another company and spending thousands of dollars, 2% can add up to be a HUGE savings. Prox stands for Proximo meaning Of or in the following month

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# Net tenth prox 1.5 percent sc 25?

This is a type of Payment Terms that applies to an account between an Vendor and Customer. This is how it is defined: Any Invoice dated from the 1st of a given month to the 25…th, will be due by the 10th of the following month. If an Invoice is not paid on time, that is by the 10th, a 1.5% service charge will apply.

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# What are payment terms 15th Prox plus 60?

in order to receive the discount payment is to be made by the 15th of the following month(depending upon the cutoff date being used) otherwise, payment is to be made in 60 day…s from the discount date. Ex. Based on a 25th cut-off invoice date 9/1 has until 10/15 for discount or 12/15 without discount.

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# What are fifth third prox payment terms?

Payment is due on the 5th day of the 3rd month following the invoice date. For example, a March invoice would be due on June 5th.

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# When do you get payment if the payment term is net 60?

Net in 60 strictly means that the balance is due 60 days from the invoice date. If the invoice date is January 15th, then the balance (net) is due on (or before) March 15th. 6…0 days after the invoice date. Other terms used are 2n20 net 60 which merely means the payer of the invoice can take a 2 percent discount if the amount due is paid off on or before the tenth day after the invoice date.