Trading TermsNormal Distribution Black-Scholes Option Pricing Model Qualified acceptance Inductive Logic Black Box Equity Investment
Open account
Trade transactions often involve a method of payment called open account. This is when a supplier sends goods to a buyer and the buyer credits the supplier's account with the invoice amount after verifying the shipping documents. The account is then settled at regular intervals, typically monthly, with the buyer sending a bank draft or arranging a remittance through their bank in favor of the exporter. This allows for more flexibility and trust in business relationships.
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