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 about Credit & Lending
A short sale is a pre-foreclosure sale that takes place when a home is sold for less than the amount owed on the mortgage. The mortgage company agrees to allow the homeowner to sell the home and pay off the mortgage balance.Full Answer >
According to Disability Secrets, how long short term disability benefits last varies based on the terms of a person's temporary disability insurance plan. The average time limit for short-term disability benefits is between three and six months.Full Answer >
To purchase a short-sale home, work with a real estate agent to create a contract in which the terms are subject to the approval of the mortgage lender. The contract states that the property is being purchased "as is" with no repairs expected.Full Answer >
The phrase "Net 10th Prox" means that payment for goods or services received is due on or before the 10th of the following month. This is a relatively common term of payment utilized by companies in the United States.Full Answer >