Difference between revisions of "Credit Agreement"
From Open Risk Manual
Wiki admin (talk | contribs) |
Wiki admin (talk | contribs) |
||
| Line 10: | Line 10: | ||
* credit card agreements and | * credit card agreements and | ||
* other agreements where goods or services are supplied, but payment for which is deferred or credit provided. | * other agreements where goods or services are supplied, but payment for which is deferred or credit provided. | ||
| − | |||
| − | |||
| − | |||
| − | |||
Revision as of 11:58, 9 June 2021
Definition
Credit Agreement. A contractual agreement in which a debtor receives something of value and agrees to repay the creditor at some date in the future, in some form (e.g., cash, securities, etc.), generally with interest
The definition of what constitutes a "credit agreement" is a broad one[1] and it extends to cover (without limitation)
- loan agreements
- overdrafts
- hire purchase agreements
- conditional sale agreements
- pawn agreements
- credit card agreements and
- other agreements where goods or services are supplied, but payment for which is deferred or credit provided.
Disclaimer
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
References
- ↑ See e.g., Consumer Credit Act 1974
