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Trade: Open Account Arrangement
A mode of payment where the exporter/seller sends all the documents directly to the importer/buyer upon promise to pay at some future time.
 
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Features Benefits Contact Us  
 
Bank does not undertake to pay
No documents examination
No assurance as to quality and quantity of goods shipped
Eligible for financing via Trust Receipt arrangement, either in Peso or in US Dollar currency
Must be registered with the Bangko Sentral ng Pilipinas (BSP) if foreign exchange payment is to be sourced from the banking system
Global presence through correspondent banks’ network
 


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