Overview

credit


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1 The system by which goods or services are provided in return for deferred rather than immediate payment. Credit may be provided by the seller, or by a bank or finance company. See also consumer credit; export credit agency; hire purchase; subsidized credit; trade credit.

2 The reputation for financial soundness which allows individuals or companies to obtain goods and services without cash payment.

3 A positive item, that is, a receipt or asset in accounts.

Subjects: Economics.


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