list out the terms of credit
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The terms which indicate when payment is due for sales made an account (credit) .
The cost of credit is additional amount over and above the amount borrowed.
The cost of credit is additional amount over and above the amount borrowed.
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Answer:
TERMS OF CREDIT
different conditions in which the borrower and the lender agreed before granting or taking loan .
it includes :
* rate of interest .
* mode of payment .
* collateral .
* documentation required etc.
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