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Open account

A trade arrangement in which goods are shipped to a foreign buyer without guarantee of payment. The obvious risk this method poses to the supplier makes it essential that the buyer's integrity be unquestionable.

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open account
Retail; Supermarkets

A business or person with a line of credit that is not backed by collateral.

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Financial services; General Finance

Arrangement whereby sales are made with no formal debt contract. The buyer signs a receipt, and the seller records the sale in the sales ledger.

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A trade arrangement in which goods are shipped to a foreign buyer without guarantee of payment.

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An international body that drafts model laws such as the one on government procurement.

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Economy; International trade

Multilateral trade negotiations launched at Punta del Este, Uruguay in September 1986 and concluded in Geneva in December 1993. Signed by Ministers in Marrakesh, Morocco, in April ...

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