Prox Terms?


Prox terms refer to the next payment due. The word 'prox' means 'next' in Latin. So, Prox 30 payments terms will mean that an invoice given in a particular month will be due on the 30th of the following month.
Q&A Related to "Prox Terms?"
This is really odd for me to see, usually when a company uses "prox" it's for dates, such as 1-30 (days of the month) From what I've seen however, Prox 45, may mean that
Payment for material receipted will occur on the fitth day of the third proximate month after the month the material were received.
1% discount if paid by the next 10th of the month, net (no discount) if paid by the next 15th of the month.
The term 2 / 10 means the buyer is eligible for discount of 2% if the payment is made within 10 days. As the payment is made after 10 days he cannot claim discount, so the amount
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