Avoid notary costs and admin.
There is no need to go to the notary to sign renewals if there are no changes to the terms and conditions. This saves your company time and money.
Keep the same account number, every year.
This will avoid the hassle of changing your account number: you can keep your direct debits, cheques, promissory notes, etc.
It works just like any current account.
You can use your Open Term credit account just like a normal current account: deposit and withdraw cash, direct debits and payments, issue cheques, promissory notes, etc.