Q:
What are prox terms?
A:
Quick Answer
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
Credit:
Image Source RF/InStock
Image Source
Getty Images
Full Answer
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 & LendingSources:
Related Questions
-
Q:
What are some features of SAFE Federal Credit Union?
A: Some features of SAFE Federal Credit Union savings services are compounded dividends earned on the average daily balance that are paid quarterly, itemized ... Full Answer >Filed Under: -
Q:
How do you build your credit with a credit card?
A: 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 t... Full Answer >Filed Under: -
Q:
How do you apply for an application for a Brazilian Visa?
A: To apply for a Brazilian Visa, research the visa type, review the requirements, and submit the application and appropriate fee to the Brazilian Consulate i... Full Answer >Filed Under: -
Q:
How do you pay off your mortgage early?
A: Strategies to pay off a mortgage faster include paying more each month, refinancing, making occasional extra payments and switching to a biweekly payment p... Full Answer >Filed Under:
You May Also Like
-
Q:
What is a tier-one credit score?
-
Q:
Where can you find the Visa bonus points catalog?
-
Q:
What are some good professional loans?
-
Q:
What payment options does Benson Chrysler in Greer, South Carolina, offer?
-
Q:
Can I get a credit card without giving out my Social Security number?
-
Q:
How long does it take eCreditAttorney to repair credit?
