credit contract
81Loose Credit — The practice of making credit easy to come by, either through relaxed lending criteria or by lowering interest rates for borrowing. Loose credit often refers to central banking monetary policy and whether it is looking to expand the money supply… …
82forward contract — Under Title 11 U.S.C. Section 101: (25) The term forward contract means (A) a contract (other than a commodity contract, as defined in section 761) for the purchase, sale, or transfer of a commodity, as defined in section 761(8) of this title, or …
83Equal Credit Opportunity Act — The Equal Credit Opportunity Act (ECOA) is a United States law (codified at usc|15|1691 et seq.), enacted in 1974, that makes it unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction,… …
84letters of credit — A letter of credit is an undertaking, which is irrevocable, by the customer s bank to pay a stated sum of money to the exporter, provided certain specified conditions are met including the receipt of the necessary documentation proving… …
85Equal Credit Opportunity Act — (ECOA) USA A federal statute that prohibits creditors from discriminating in any aspect of a credit transaction on the basis of an applicant s race, color, religion, national origin, sex, marital status or age (if the applicant is legally capable …
86First-Time Homebuyer Tax Credit — A refundable tax credit made available to Americans purchasing their first home. The first time homebuyer tax credit originally applied to home purchases made by qualified first time buyers between April 9, 2008, and July 1, 2009. However, the… …
87Lease purchase contract — A lease purchase contract (or lease option contract) is the abbreviated form of the appropriate term lease with option to purchase contract. It is a form of real estate purchase which combines elements of a traditional rental agreement with an… …
88qualifying credit — For the purposes of the Financial Services and Markets Act 2000 (FSMA), credit provided pursuant to an agreement under which: • The lender is a person who carries on the regulated activity of entering into, administering, advising on or arranging …
89Longtime Homebuyer Tax Credit — The Longtime Homebuyer Tax Credit was a federal income tax credit available to homebuyers who had owned and lived in the same principal residence for five of the last eight years before the purchase of their next home. In order to qualify for the …
90Standby Line of Credit — A sum of money, not to exceed a predetermined amount, that can be borrowed in part or in full from a credit granting institution if the borrower needs it. In contrast, an outright loan would be a lump sum of money that the borrower intended to… …
