Thursday, November 03, 2011

Never Sell Globally on Open Account; Here's Why

What is open account?
Open account means you ship goods or sell services globally without any guarantee of collecting payment on a transaction.
Read more to find out why you should never sell on open account -- no ands, ifs or buts.

Blogs on Entrepreneurs | Crain's Chicago Business
by Laurel Delaney

1 comment:

APB News said...

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.