From Longman Business Dictionaryaccount termsacˈcount terms [plural]COMMERCE the arrangement that a seller makes with a buyer for goods or services to be paid for using an account, including the amount of time a buyer can wait before payment must be made, the method of payment etcThe goods were sold on monthly account terms.Many exporters are reluctant to sell on open account terms (=where no particular date or method of payment has been agreed). → term
