Legal Glossary
CREDIT FACILITY
General
Definition
CREDIT FACILITY: when money, goods or services are supplied by the credit provider at the request of the consumer. The repayment of the loan, goods or services are postponed to a certain date in the future, together with interest and/or fees/charges. For example, credit cards, overdrafts and so on....
CREDIT FACILITY: when money, goods or services are supplied by the credit provider at the request of the consumer. The repayment of the loan, goods or services are postponed to a certain date in the future, together with interest and/or fees/charges. For example, credit cards, overdrafts and so on.