open account

Definition of "open account"
  1. A trading agreement where products are sent to an overseas buyer without promising payment
How to use "open account" in a sentence
  1. The company adopted an open account approach to foster better international relations.
  2. The risk of non-payment in an open account deal is higher and needs careful customer assessment.
  3. Use of an open account may increase trade opportunities but comes with associated challenges.

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