What is it?

Open account means exporting on the basis of “ship now, pay later”.

  • Export the goods.
  • Buyer promises to pay later.
  • Trust the buyer.

It is called different things in different countries. For example, it is also referred to as exporting on “DA terms” or “sale contract”.

Why do exporters agree to “ship now and pay later” terms?

Many years ago, most world trade (over 50%) was supported by bank guarantees, called letter of credit.

Two things have happened:

  • Letter of credit products have become more expensive and complicated – and often no longer really provide effective protection to exporters.
  • During the last 20 years, Chinese banks have supported Chinese exporters with export finance – allowing them to offer open account, “ship now, pay later” terms to buyers.

So buyers have got used to working on open account and expect their exporters to offer it.

Open account provides significant benefits to the buyer:

  • The goods arrive and often can be sold before they have to be paid for.
  • The buyer has good cash flows. The more he buys, the more cash flow he generates.
  • It is simple and easy. No complicated forms, no fees to pay, no banking lines to use up, no need to recruit and keep trade finance specialists in the import department.

And the buyer is king – so if the buyer demands open account, exporters agree and then worry about it later.

Using export finance makes open account safe

Without export finance, the exporter has to trust that the buyer will pay later. He also has to find the cash to purchase the materials and pay his workers whilst he is waiting for the buyer to pay later.

In many countries, exporters are not allowed to run these risks and governments demand that their banks control the export of goods to make sure that buyers pay cash before shipment.

With export finance, the exporter is paid at shipment and the financier takes the credit risk of the buyer. This makes open account safe for exporters.

Export finance from PrimaDollar is the answer

PrimaDollar pays at shipment and takes the credit risk that the buyer will pay later. Export finance from P

I am an exporter: how do I get export finance?

Working with PrimaDollar means that exporters can agree to “ship now” and let the buyer “pay later”.

Export finance, and similarly import finance, is simple, low cost and does not require any collateral or personal guarantees from the exporter.

  1. Ask PrimaDollar for a limit on your buyer.
  2. Agree the charge with us – check our export finance calculator: here.
  3. Finalise your purchase order, shipping date and logistics.
  4. Make the goods.
  5. Send us the shipping documents, get paid.

The buyer pays us later, and we take the buyer credit risk.

How can I find out more?

With a global network and global coverage, talk to us.

  • More about export finance: here
  • More about supply chain trade finance: here


  • Price export finance online: here
  • Find your local office: here
  • Read more about PrimaDollar: here
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