Meaning of CREDIT in English


Firm A buy goods of firm B, A do not pay the money to B at once, but after several days later, such activity is called credit .

eg: Sean sells goods on terms of 2/10, net 30, means his customers can pay the money after 30 days. But if his customers pay the money within 10 days he will give them 2% discount.

Sean Woo's Finance, GIS and real estate English glossary.      Английский глоссарий по ГИС(Географическая информационная система) и недвижимости Sean Woo's Finance.