The payment term "net 5th of 3rd month" means that payment is due on the 5th day of the third month following the invoice date. For example, if the invoice is dated in January, the payment would be due on March 5th. This term gives the buyer additional time to settle the invoice compared to standard net payment terms, which typically require payment within a month.
"Net 13th 23rd prox 3rd 13th subsequent" refers to a payment term often used in business transactions. It indicates that payment is due 13 days after the 23rd day of the month, with the term "prox" suggesting that the due date is based on the next month’s cycle. The subsequent part typically signifies that this payment schedule will continue in the following months. Essentially, it's a structured way to define when payments should be made after certain dates.
the payment is good 30 days that happens to fall on the 3rd day of the month
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.
If you mean... Your payments are due May 5th and you pay May 5th payment on June 3rd... Then yes, they cannot report Mays payment as being 30 days late. I have been doing it every month for over a year trying to get caught up
What does it mean for a customer if they purchase $250.00 worth of supplies on the 3rd day of the month and the terms are Net 30 Days?
I believe it means the payment is made on the 2nd of the 3rd month following the date of invoice.
"Net 13th 23rd prox 3rd 13th subsequent" refers to a payment term often used in business transactions. It indicates that payment is due 13 days after the 23rd day of the month, with the term "prox" suggesting that the due date is based on the next month’s cycle. The subsequent part typically signifies that this payment schedule will continue in the following months. Essentially, it's a structured way to define when payments should be made after certain dates.
the payment is good 30 days that happens to fall on the 3rd day of the month
The term "3rd 23rd sub 3rd follow payment terms" likely refers to a specific payment schedule or condition in a contractual agreement. It may indicate that payments are to be made on the 3rd and 23rd of each month, with specific conditions or sub-clauses detailing how these payments should be followed or executed. However, without additional context or clarity, the exact meaning can be ambiguous. It's advisable to refer to the specific contract for precise definitions.
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.
If you mean... Your payments are due May 5th and you pay May 5th payment on June 3rd... Then yes, they cannot report Mays payment as being 30 days late. I have been doing it every month for over a year trying to get caught up
What does it mean for a customer if they purchase $250.00 worth of supplies on the 3rd day of the month and the terms are Net 30 Days?
What does it mean for a customer if they purchase $250.00 worth of supplies on the 3rd day of the month and the terms are Net 30 Days?
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.
The fifth 3RD prox payment typically refers to the fifth payment made under a third-party payment structure in a specific contract or agreement, often related to finance or accounting. In a 3RD prox payment system, payments are made based on the services rendered or goods delivered, usually in arrears. The exact details can vary depending on the context, such as the specific terms of the contract or the industry involved. For precise information, it would be best to refer to the specific agreement or context in which this term is used.
It could mean a lot of thing but, my bet in this instance it means March (the 3rd Month) 25th, 2013.
payment terms 3rd,13,23rdsub,3rd follow