Credit agreement
Definition
A credit agreement is a contractual agreement between a borrower and a lender that outlines the terms and conditions of a credit facility or loan provided to the borrower. In the context of the supply chain, a credit agreement may refer to an agreement between a company and its suppliers or vendors regarding the extension of credit terms for purchasing goods or services. The credit agreement defines the credit terms, repayment terms, interest rates, and other conditions under which the credit will be provided.
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