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.Know More
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
To get a home equity loan, consult with financial advisers, consider various options, ensure that you understand the terms and know your rights. Finally, apply for a loan.Full Answer >
A loan modification is a permanent change to the terms of a loan, according to the U.S. Department of Housing and Urban Development. A loan modification reinstates a loan and offers a repayment option the borrower can afford.Full Answer >
A payment agreement is a contract between two individuals that stipulates the terms and conditions of a loan. It's used by people who borrow or lend money or those who wish to create terms for a debt already incurred, according to Rocket Lawyer Inc.Full Answer >
Short-term financing refers to business or personal loans that have a shorter-than-average timespan for repaying the loan, typically one year or less. Some short-term loans have even shorter terms, such as 90 to 120 days.Full Answer >