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image for OpenScout resource :: Credit

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In the fields of commerce and finance, credit is essentially a "buy now, pay later" transaction. In other words, credit refers to transactions between two parties in which one, acting as creditor or lender, supplies the other (the debtor or borrower) with money, goods, services, or securities in return for the promise of future payment instead of immediate payment.

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Copyright © 2011 Advameg, Inc.