How is the repayment of the loan
Posted on Nov 27, 2000 08:15:27 AM
Ways to ensure loan repayment – this is the types and forms of guaranteed obligations of the borrower ne-ed a creditor (the bank) to return the loan in case of possible non-repayment by the borrower.
Forms of credit
Posted on Sep 10, 2000 08:15:27 AM
All loans are classified according ¬ STI from someone who is a creditor, and which provided the loan. Distinguish five forms of credit.
Commercial credit. This is the earliest form of the loan. It is based on the now-deferred seller payment of goods and provision of business-customer bills as a debt obligation to pay the cost of goods purchased after a certain period of time.
For commercial loan are two types of bills.
1. Promissory note – contains the obligation of the borrower to pay a specific amount directly to the lender.
2. A bill of exchange (draft) – contains a written order to the lender to the borrower to pay a fixed sum to a third person or to bearer instrument.
In the Russian practice of using three types of commercial loans:
1) with a fixed maturity date;
2) returning after the actual implementation of the received goods on credit;
3) on an open account – secondary supply of goods under a commercial loan made only after repayment of the previous delivery. Bank loan. This is the most common form of credit in Russia. Creditor is usually the bank and the borrower – legal entity. Confirmation of the credit transaction is a loan agreement. Income of the bank loan interest is paid by loan ¬ schikom. Credit is usually given in cash.
Consumer credit. Acts then ¬ Varna or cash at the target lending to individuals. Lenders may make traders (retail sale of goods on credit) or credit organizations (providing cash loans to people for different purposes).
State credit. Its main feature – it’s part of the credit transaction state as a lender or borrower. Addressing the creditor, the state makes loans of regional or local authorities, the priority sectors of the economy, commercial banks and other lending institutions.
International credit. This form of credit occurred when economic relations of went beyond national borders. Participants in international credit transactions can be separate legal entities, the right ¬ governments of States, international financial and credit institutions.
Separately identifiable form of usurious loan. This credit was widespread in the past, along with commercial loans. Its members are the individuals in the provision of funds in the loan.
In most countries, usurious loan is prohibited in Russia has a limited distribution.