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Open Account :
Open account means that buyers pay the cost of the goods
after goods have been shipped by the supplier. In an
international trade transaction open account defines as a sale
where the goods are shipped and/or delivered before
payment is due, which is usually in 30 or 60 days. Open
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Documentary Credits :
Source : http://trade.gov/media/publications/abstract/trade_fi
nance_guide2008desc.html