Question

Define the terms of Credit. What arethe terms of credits? Give Examples.

Answer 1

Explanation:

Terms of credit comprise interest rate, collateral and documentation requirement, and the mode of repayment. The terms of credit vary substantially from one credit arrangement to another. They may vary depending on the nature of the lender and the borrower.

Answer 2

Answer:

Terms of credit comprise interest rate, collateral and documentation requirement, and the mode of repayment. The terms of credit vary substantially from one credit arrangement to another. They may vary depending on the nature of the lender and the borrower.

Terms of credit are the requirements need to be satisfied for any credit arrangements. It includes interest rate, collateral, documentation and mode of repayment.

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