Manage international receivables the smart way
Since 1978, Accord has covered open account trade between the U.S. and Canada, and from North America to major markets around the world. Our export service covers receivables from credit decision right through to collection, with 100% credit protection on approved accounts. Accord is set up to handle multiple currencies and time zones, and navigate language, cultural, and business differences. For over 35 years, Accord has earned a reputation for managing export trade better and faster, generally at a lower cost than handling it in-house.
Join the inner circle and be one of nearly 1,200 companies seamlessly sourcing and settling trade with suppliers around the world. It's as easy as using a credit card. And it's only from Accord.
AccordOctet is a unique trade finance solution aimed at North American companies sourcing goods anywhere in the world. Approved clients are offered an interest-free, unsecured line of credit, strengthening their purchasing power without interfering with existing financing facilities. The program provides quick payment to suppliers, while allowing clients up to 120 days to settle their purchases.
AccordOctet effectively unlocks capital, otherwise tied up in the supply chain, by reducing the critical timing gap between cash outflow to suppliers and cash inflow from customers. The program can also drive growth by providing extra credit for large orders and/or peak periods.
With AccordOctet, there are no hassles, no delays, no letters of credit; payment to suppliers is made the next business day. This quick trade settlement puts our clients in a stronger negotiating position with their suppliers, which means better pricing and increased supplier loyalty.
The program is backed by a state-of-the-art portal, connecting the importer, their suppliers and Accord, enabling a seamless flow of documentation and funds. Using an encrypted transaction card, clients can review and authorize transactions online and Accord pays their suppliers within twenty-four hours. Clients then have up to 60 days interest-free to repay Accord, with the option to defer 75% for an additional 60 days. The program carries only a modest transaction fee, similar to a credit card merchant fee, which can often be negotiated with the supplier.
AccordOctet provides more power to trade, with these key advantages:
- Flexible funding that complements existing credit lines
- Optimizes the cash flow cycle
- Promotes growth opportunities
- Provides stronger negotiating power
- Simplifies international transactions