Open account transaction

Open account transaction— sale in which the exporter ships the merchandise and expects the buyer to remit payment according to agreed-upon terms.

Share it: CITE

Previous:
Computer Programming

Next:
Parallel bonds

Related Definitions

Transfer of Death (TOD) Account
Transfer-on-death (TOD) Account applies to designated beneficiaries who acquire properties...
Open-End Mortgage
An Open-end Mortgage is a distinct sort of house loan...
Account Summary
Account Summary is a document that summarizes financial accounts for...
Brokerage Account
A Brokerage Account is used to purchase and sell assets...
Separate investment account
Separate investment account used in group pension plans in which...