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Cash Credit Agreement | Download Free Templates
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1. What is a Cash Credit Agreement?
Cash Credit is a short-time capital loan given by financial institutions to the companies or any other type of borrower where the borrower can utilize the money even with or without a credit balance. The borrowing limit and the rate of interest to be payable thereupon are pre-determined as per the agreement. This agreement is usually entered into between the borrower and the lender. Some of the sectors where these types of agreements are widely used can be credit card issuing companies, NBFC, banks, etc.
2. Why is it important?
a. It helps in determining the terms and conditions on which the credit will be given, liabilities of the borrower, when the amount is to be repaid and what will be the interest rate charged, thus helps in avoiding any kind of dispute in the future.
b. These types of agreements are standard agreements where the lender usually has the upper hand.
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February 14, 2019
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February 14, 2019
Email is a crucial channel in any marketing mix, and never has this been truer than for today’s entrepreneur. Curious what to say.