Question

what is credit or terms of credit​

Answer 1

Answer:

Credit means a loan, an agreement in which the lender (creditor) supplies the borrower with money, goods or services which is to be returned in future. Terms of credit apart from the rate of interest, collateral also includes documentation, mode of repayment.

Answer 2

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.

Credit means a loan, an agreement in which the lender (creditor) supplies the borrower with money, goods or services which is to be returned in future. Terms of credit apart from the rate of interest, collateral also includes documentation, mode of repayment.

What are the three terms of credit?

Terms of credit comprise interest rate, collateral and documentation requirement, and the mode of repayment.

❥❥ᴴᵒᵖᵉ ⁱᵗ ʰᵉˡᵖˢ ʸᵒᵘ