According to SWIFT, open account trade is the most common method for buyers and sellers to do business in international trade, representing approximately 80 per cent of the total market globally. It is generally used by trading parties that are comfortable with each other's risk - where it is perceived that the buyer has acceptable credit risk, and the vendor has acceptable performance risk. In this trading method, the seller ships goods and waits for payment, which may put considerable strain on their working capital depending on the payment terms of the buyer.
HSBC Trade Services
24 Sir Baron Jayathilake Mawatha
Call +94 114 793 855