Tooltip Tags: crédit

hire purchase

Legal term for a contract, in which persons usually agree to pay for goods in parts or a percentage at a time. (source: http://en.wikipedia.org/wiki/Hire_purchase)

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grant a loan

To authorize and give a credit to a person who meets the conditions set by the lender and provide sufficient guarantees for its return.

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foreclosure

The legal process by which an owner’s right to a property is terminated, usually due to default. Typically involves a forced sale of the property

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drawdown loan

The withdraw funds from a loan facility. (source: http://www.businessdictionary.com/definition/drawdown.html)

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credit scorecard

The traditional form of a credit scoring model is a scorecard. This is a table that contains a number of questions that an applicant is

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credit sqeeze

Significant reduction in the supply of credit by banks due to the increase of the default rate and the lack of trust in theirs clients.

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credit line

An arrangement between a financial institution, usually a bank, and a customer that establishes a maximum loan balance that the bank will permit the borrower

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credit note

A form or letter sent by a seller to a buyer, stating that a certain amount has been credited to the buyer’s account. (source: http://www.businessdictionary.com/definition/credit-note.html#ixzz2RP9KcXAG)

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credit committee

A group of people responsible for assessing the credit standing and ability to repay debt of prospective borrowers of a lending institution. (Read more: http://www.businessdictionary.com/definition/credit-committee.html#ixzz434KhPQkE)

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credit limit

The maximum amount of credit that a bank or other lender will extend to a customer, or the maximum that a credit card company will

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