Letter of Credit Forum

Hello,

I read about open account it says that as per there are credit terms involved is called as open account.

I wanted to know the instruments that comes under open account or trade finance methods that comes under trade finance.

ICC report 2013 says open account is growing upto 80 % of the world trade.But in the same report there is pie chart which states that 41% lc . 19 % open account etc. So what does this states.

Thanks and Regards.