Clarification -- prox is a shortned form of the latin proximo, meaning next (not approxmate as is commonly beliexed.) So, Net 10th Prox menas that payment in full is due ON the 10th of the next (proximo) month.
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 13th, 23rd prox 3rd 13th sub
new 1st/10th/20th sub
It means you pay on the 25th of each month
Clarification -- prox is a shortned form of the latin proximo, meaning next (not approxmate as is commonly beliexed.) So, Net 10th Prox menas that payment in full is due ON the 10th of the next (proximo) month.
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 13th, 23rd prox 3rd 13th sub
new 1st/10th/20th sub
It means you pay on the 25th of each month
Net 30th prox are payment terms such that all invoices for a given month are payable in one lump payment due 30 days after the end of the month of invoice
Due the 15th of the next month after delivery.
45 days from the end of the current month.
It means that all invoices from a given month are due by the 25th of the following month. For example, invoices dated 1/01/08 thru 1/31/08 are due 2/25/08.
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 balance due in 30 days.
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 month.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
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 25th, 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.