Open account means you ship goods or sell services globally without any guarantee of collecting payment on a transaction.
Thursday, November 03, 2011
Never Sell Globally on Open Account; Here's Why
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- Laurel Delaney
- The Global Small Business Blog (GSBB) was founded on July 20, 2004 by Laurel Delaney (pictured) for the purpose of helping entrepreneurs and small businesses expand their businesses internationally. Learn more about Laurel and visit her company GlobeTrade.com.
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1 comment:
I agree. With so many financial instruments like letters of credit to help ensure payment, there's never a good reason not to protect your ability to collect. Banks have a lot more pull than local governments when it comes to enforcing agreements and contracts.
Daisy
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