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"25 net 2nd prox" payment terms indicate that the buyer is required to pay the invoice amount within 25 days, but the payment is based on the second month following the invoice date. "Net" means the full invoice amount is due, with no discounts. Essentially, if an invoice is issued in January, the payment would be due by the end of February.
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What is 4 percent 25th prox net 60?
These are accounts receivable and accounts payable terms. "4% 25th prox" means that the payer of this invoice will be granted a 4% discount (usually excluding freight costs) if the bill is paid by the 25th of the next month. "Net 60" means that the full invoice is due 60 days after the invoice date. On a Receivables side, it is important to save envelopes of incoming payments which have NOT met the discount deadline, to document when a payment was mailed. Part of the Payables/Receivables cat-and-mouse game is for a customer (the payer) to PRINT a check in time to deduct the discount - but not MAIL it until the customer has funds to cover it. The vendor (seller who is owed the money) has offered the discount if paid according to the terms, and if the payer does not honor the terms, the payer forfeits the discount. In a dispute, the remittance envelope proves the payment date. In reality, if the payer usually pays timely and is otherwise a good customer, the vendor will grant the discount. It's all negotiable.
What is mns2-3 payment term?
MNS2-3 is a payment term often used in business transactions, particularly in the context of credit terms. It typically indicates a net payment due within 30 days, with a potential discount if paid within a specified period, usually 2 or 3 days. This encourages early payment from buyers while establishing a clear timeframe for settling invoices. Always confirm specific terms with your supplier or contract, as variations may exist.
What does the term net 5th of the month mean?
The term "net 5th of the month" typically refers to a payment schedule where payments are due on the 5th day of each month. It is often used in business transactions or rental agreements, indicating that the net amount owed must be paid by this specified date. The term "net" suggests that the payment is made after any deductions, such as taxes or fees, have been accounted for.
What does net mean in math terms for 7th grade?
Net means.the amount of units squared will fit around a box with out over lapping and having enough for the sides to.
What does terms of Net on a contract mean?
If you mean on a contract that you need to pay (invoice), it probably has something like 2/10 net 30. If this is what you are talking about it means that you can take a 2% discount if it is paid within 10 days, otherwise the "net" amount is due in 30 days.
What is Net 30th prox?
Net 30th prox are payment terms such that all invoices for a given month are payable in one lump payment due 30 days after the end of the month of invoice
What are Payment terms Net 45 PROX?
45 days from the end of the current month.
What is 2 15th prox net 30 terms?
The term 2 15th prox net 30 terms is an accounting term indicating when payment is due. The payment for this would be that half is due on the 15th of the month and the balance due in 30 days.
What does net 25th 2nd prox mean?
"Net 25th 2nd prox" typically refers to payment terms in a financial or business context. It means that payment is due on the 25th day of the second month following the date of the invoice. For example, if an invoice is dated in January, the payment would be due on March 25th. The term "net" indicates that the total amount is due without any deductions.
What does Net 30 Prox mean?
The phrase Net 30 prox is used in the accounting field. It means that a buyers payment is due 30 days from the day they receive the shipment.
What does Net 13th 23rd prox 3rd 13th subsequent?
"Net 13th 23rd prox 3rd 13th subsequent" typically refers to payment terms, indicating a net payment due on the 13th or 23rd of the month following the transaction, with a 3rd and 13th subsequent payment schedule. Essentially, it means that payments should be made within a specified timeframe after the invoice date, allowing for a grace period for processing. It's important to clarify the exact meaning with the concerned parties, as such terms can vary in interpretation.
What are payment terms 15-15 Net Prox 1.2?
15-15 Prox 1.2 payment terms means that any product shipped/received from the 15th of one month to the 15th of the next month will be paid on the 2nd month of the 2nd day. For an example, anything shipped between July 15 ~ Aug 15 will be paid on October 2. It would be similar to Net 45 ~ 75 days. Items shipped on Aug. 15 would get paid in 45 days and items shippped on July 15 will be paid in 75 days. It behooves you to ship as much as close to the 14th as possible.
What does 2 percent 2nd 10th net 30 payment terms mean?
stupud
What is Net tenth prox?
Clarification -- prox is a shortned form of the latin proximo, meaning next (not approxmate as is commonly beliexed.) So, Net 10th Prox menas that payment in full is due ON the 10th of the next (proximo) month.
What is Net 13th 2third prox third 13th subsequent?
What is net 13th, 23rd prox 3rd 13th sub
What does Net 13th 23rd prox 3rd 13th subsequent mean?
"Net 13th 23rd prox 3rd 13th subsequent" refers to a payment term often used in business transactions. It indicates that payment is due 13 days after the 23rd day of the month, with the term "prox" suggesting that the due date is based on the next month’s cycle. The subsequent part typically signifies that this payment schedule will continue in the following months. Essentially, it's a structured way to define when payments should be made after certain dates.
What is net 25 prox payment terms?
It means that all invoices from a given month are due by the 25th of the following month. For example, invoices dated 1/01/08 thru 1/31/08 are due 2/25/08.
