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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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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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