A payment term under which the buyer promises to pay the seller within a predetermined number of days, and the seller does not restrict the availability of documents that control possession rights to the goods. In practice, required documentation is sent directly to the buyer or the buyer´s customs broker. Buyers requesting open account payment terms sums in excess of their seller´s comfort levels can be accommodated by opening standby letters of credit on favour of sellers. However, this payment term is prudent only when a buyer has absolute confidence that the seller will not wrongfully draw on the standby letter of credit. Export credit insurance may also increase open-account seller´s comfort levels. See payment terms.