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Re: ITD-09 Terms Code - Proximo
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> Can anyone temm me what the meaning of the Terms Type code value '09 -
> Proximo' found in the ITD-01 element?
Proximo translates literally into "next"
i.e., terms "net 10th prox" means due the tenth of the next month following the
invoice date.
1% 10th and 25th prox net 30 means take a discount if you pay by the first tenth
or twenty-fifth of the month following invoice
date. But with multiple prox dates like this it is generally construed to mean
"invoices dated 26-10, discount if paid by the next
twenty-fifth; invoices dated 11-25 discount if paid by next tenth.
Michael Mattias
Tal Systems, Inc.
Racine WI
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