Question

What are the terms of credit​

Answer 1

Answer:

Terms of credit are the requirements need to be satisfied for any credit arrangements. It includes interest rate, collateral, documentation and mode of repayment. However the terms of credit vary depending upon the nature of lender, borrower and loan.

Answer 2

Answer:

Interest rate, collateral and documentation requirement and the mode of repayment together comprise what is called the terms of credit. They may vary depending on the nature of the lender and the borrower.

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