Debt and Lending Agreement

Debt and Lending Agreement :-

Debt is defined as something, usually money, is owed by one party (the borrower or debtor) to a second party (the lender or creditor). Debt is a deferred payment, or series of payments, that is owed in the future, thus differentiating it from an immediate purchase. The debt may be owed by sovereign state or country, local government, company, or an individual. Commercial debt is generally subject to contractual terms regarding the amount and timing of repayments of principal and interest. Loans, bonds, notes, and mortgages are all types of debt.

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