I believe the term "trade creditors account" is used in Europe. Can you define this for me?

One of our experts with international banking and global corporate experience confirms that in Europe, as in the U.S., a trade creditor is a supplier who gives customers a grace period in which to pay bills after supplies have been delivered. The grace period varies from weeks for consumer goods, to years for some capital goods. In other words, just your basic accounts receivable.

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