What Is A Credit Agreement?

A legal credit agreement is one between a creditor and a consumer which meets the following criterion: When the credit institution or provider supplies either services or goods, or loans money to the consumer, in this case: The consumer agrees to pay for the services or goods or to repay the loan of money over a period of time agreed on by the consumer and the credit provider; Each single payment is to be made on a certain date in the future as agreed on by the consumer and the provider; The consumer is...

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