open account
Unpaid credit arrangement
An open account is a credit arrangement where goods or services are provided before payment, with the buyer expected to pay later according to agreed terms.
In international trade, it's common between established partners: They ship on open account with net-30 terms.
The phrase also describes any account that remains active and available for transactions, as opposed to one that's been closed or settled.
- creditRecognition or payment deferral
- line of creditPreapproved borrowing capacity
- balanceSteadiness or amount owed
- balance dueRemaining sum unpaid
- ledgerFinancial record book
invoice · billing · charge · merchant · customer · good standing · trade · receivable · payable · deposit · withdraw · statement · credit terms · tab · dues · trust · terms · vendor
open accountletter of credit
Bank-backed payment promise
cash on delivery · prepayment · COD · secured credit · bank guarantee
open, account, opened, opening, opens, opener, openers, openness, openly