We have been asked to offer Prox terms to a certain customer. Can
you briefly explain this term?
Answer: : Prox is short
for Proximo. Roughly translated from Latin, Proximo means next. Now,
applied to an invoice you might see terms of 2% 10th Prox, Net 20th Prox
and wonder what it means either as a seller or a buyer. The answer is
surprisingly simple. It means the invoice in question will receive a
2% discount if paid by the 10th of the following month [the 'next' 10th]
and is due net on the 20th of the following month [the 'next' 20th of
the month]. |
