Prox is short for the Latin term "proximo mense" and means in the next month. Prox terms is an invoicing agreement that requires the receiver of a good or service to reimburse a business within a month.Continue Reading
Oftentimes a business will provide discounts if payment is received prior to a month from the invoice due date. Businesses provide discounts to improve their cash flow and their ability to repay debts or to fund payroll. The discount terms and payment due date are stipulated on the invoice.
Seasonal businesses often have extended invoicing terms with their customers. This encourages customers to take shipment of products prior to when they will be able to resell them.Learn more about Credit & Lending
The American Express Platinum card is a credit card that comes without interest charges, as cardholders pay their full balance at the end of every month, explains American Express. As of 2015, the card's annual fee is $450, and it offers up to $200 in airline fee credit each year.Full Answer >
Those who want to build or recover a credit rating can apply for a credit card, use it to make purchases a few times each month, and make the payments on time. This helps establish a pattern of responsible credit use.Full Answer >
There are no credit card issuers that allow customers to carry a balance from one month to the next without paying some interest fees, since accumulated interest counts for a large chunk of income for these companies. However, there are still two ways to use a credit card without paying interest: either pay off the full balance on time every month, or find a card that offers a promotional period with deferred or waived interest, according to About.com.Full Answer >
Existing mortgage payoff calculators work by indicating how much you save on interest and the length of a mortgage by paying extra each month, and it can tell you how much extra to pay each month to pay off a mortgage within a specific length of time, as BizCalcs.com explains. However, these methods assume the absence of a prepayment penalty, and the bank must be willing to apply the extra payment directly to the principal balance, as Bankrate details.Full Answer >