Credit Facility
From Open Risk Manual
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Definition
Credit Facility. An option to borrow money. Defines the parameters in which you are able to draw down some amount as a Loan, debt finance, or some other financial commitment.
A Credit Facility is a bilateral contract: The lender is legally committing to be able to extend an amount of money. The borrower can borrow (or not) as and when they see fit. It is now the borrower's right to determine when and how they draw on the facility.
See Also
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.
