Open account payment takes place when the importer has a long credit history and is well known to the seller.
举一反三
- Payment in advance usually takes place when the importer has not long been established.
- In ___________, the buyer’s bank undertakes to pay the seller when the terms and conditions have been met. A: payment in advance B: open account payment C: documentary collection D: L/C
- To the importer,the fastest and safest method of settlement is A: letter of credit B: cash in advance C: open account D: remittance
- Under （ ） the importer bears greater risk. A: Open Account B: Cash in Advance C: Payment on Delivery D: None of the other
- When a bank deals with the documents presented under a credit for payment or negotiation, it disregards the contract between the importer and exporter.