Business terms and jargon explained. Your business dictionary

What is Credit

Credit is where goods or services are proved before payment is required. E.g. you buy a book for £30 on 1.1.2005 and they give you 30-day credit. This means that they will send you the book now and you do not need to pay until the dead line 30 days latter 30.1.2005.

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Term created / updated 2005-07-16 23:12:15

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