Open account
Open Account , also known as purchase against invoice in German-speaking payment transactions , is a payment method in which the goods are delivered by the seller before the buyer has paid for them. The seller grants the buyer a supplier credit and trusts that the buyer will pay the invoice on the agreed terms of payment . In the international movement of goods, Open Account is the usual payment method with almost 80% of transactions.
Web links
Individual evidence
- ↑ SWIFT Glossary ( Memento of the original from March 4, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (engl.)
