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Credit Terms |
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Credit TermsThe conditions under which credit will be extended to a customer. The components of credit terms are: cash discount, credit period, net period.Credit Terms Similar MatchesCredit bureauCredit bureauAn agency that researches the credit history of consumers so that creditors can make decisions about granting of loans. Credit historyCredit historyIf you have a history of bad debts, county court judgements or bankruptcy to your name, you may not be eligible for a mainstream mortgage. To help ensure you are a good credit risk, a lender may require references from your existing lender, bank or landlord. In addition to this, many lenders will make use of the services of one of the two large credit agencies, Experian and Equifax. These offer a credit inquiry or a full credit application, which show details of any existing credit arrangements or county court judgements against you. Line of creditLine of creditAn informal loan arrangement between a bank and a customer allowing the customer to borrow up to a prespecified amount. Federal Farm Credit SystemFederal Farm Credit SystemA system chartered in 1971 through the farm credit act providing farmers with credit services through a federal land bank, a federal intermediate credit bank, and a bank for cooperatives. See: Federal Farm Credit Bank. Unconfirmed Letter of CreditUnconfirmed Letter of CreditA letter of credit which has not been guaranteed or confirmed by any bank other than the bank that opened it. The advising bank merely informs the beneficiary of the letter of credit terms and conditions. Further SuggestionsFull faith and credit obligationsLetter of credit (LOC) Credit analysis credit clearing Credit spread Creditor nation National Credit Union Administration Commodity Credit Corporation Credit insurance Foreign tax credit full faith and credit Trade credit Credit history Transferable letter of credit Credit card Credit balance Close end credit Credit quality National Credit Union Administration Nonaccredited investor Export credit insurance Credit Standards Financial institution buyer credit policy Credit union Credit agencies |
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