There are Credit Agreements with Different Characteristics

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It is a credit agreement whereby the Credit Institution provides a customer with a certain amount of money, which the client must repay within a predetermined period and under contractually agreed conditions.

A classic credit can be subdivided into two categories:


Affected credit

Affected credit

If the credit granted is intended for the acquisition of a specific good or service, and the Credit Institution has the right to require the presentation of proof of credit assignment. This category may include automobile credit (intended for the purchase of a motor vehicle), household credit (intended for the purchase of furniture and home equipment) and in either case the identification of the goods or financed service come clearly identified in the contract, as well as the purpose of the contract;


Non-affective or personal credit

If the credit is granted without defining the purpose for which the borrowed amount is intended. A personal credit agreement allows you to finance the most diverse projects, not requiring the Credit Institution to prove the credit assignment, nor does the credit purpose include the purpose of the credit.



Long-term rental contract is the contract in which the rental company (Credit Institution) assigns the use of a mobile asset to the lessee (customer), by paying a monthly rental. If the long-term rental contract has associated a promise purchase and sale contract, at the end of the rental contract the customer is required to acquire the mobile asset.

In this case, the credit institution acquires the property desired by the customer (car), giving it the use against the payment of a periodic rent.



It’s the same as leasing. This is the financing transaction by which one party (lessor) assigns the other (lessee) the right to use a particular good, for an agreed period of time, in return for the payment of periodic rent. The lessee may acquire the good at the end of the contract, upon payment of the residual value. In practice, the rental company acquires the property desired by the Client, giving it the use against the payment of a periodic income.




It is a contract of indefinite duration or automatic renewal, without a fixed repayment time plan, in which a maximum credit limit is established.



Credit Card is translated on a plastic carrier or equivalent material, owned by the financial entity that issues it, on behalf of the customer, through which the credit institution grants the customer a line of credit, which can be used in the acquisition credit of goods and services in commercial establishments and cash advance, up to the authorized credit limit.

In the credit card, the customer’s debt only appears after the card is used. The deadline for payment of the amount used is defined in advance between the customer and the credit institution.

If the credit card is a private card, it can only be used for the purchase of goods and services in a restricted network of establishments.




The consolidated credit agreement is the credit agreement entered into between the credit institution and the banking client in default of a previous credit agreement in order to renegotiate the contractual conditions, in the sense of deferring the payment of the debt or the change of the debt repayment mode.

Consolidated credit can thus, on average, reduce customer’s monthly charges by up to 50%, increase their level of savings and ensure a rebalancing of customers’ budgets.



For the fulfillment of the obligations assumed by the client, it responds, as a rule, the patrimony of the client. However, additional guarantees may be provided, the most common being:

  • Reservation of ownership: in the sale agreements, the seller reserves the ownership of the property to the full or partial fulfillment of the obligations assumed by the acquirer.
  • Payment: a promise to pay a certain amount, under given conditions of time and place, given by a certain person, subscriber, the other, the beneficiary and its legitimate bearer at maturity.
  • Guarantee: guarantee given by the guarantor of the satisfaction of the credit claim, being this person personally liable to the creditor.
  • Mortgage: it gives the creditor the right to be paid for the value of an immovable or similar property belonging to the debtor or to a third party.




The credit agreement shall be deemed to be linked to a contract of sale or a service contract where the credit agreement serves exclusively to finance the payment of the good or service in question and both contracts constitute an economic unit, in particular whether the supplier of the good or service intervenes in the preparation or conclusion of the credit agreement or if the good or service is expressly identified in the credit agreement.

In the event of a breach or defective performance of the service agreement or the sale agreement related to the credit agreement, and the customer has not obtained from the supplier satisfaction of his right to exact performance of the contract, the customer may, together with of the institution:

  • Refuse to comply with its obligation as long as the supplier does not comply with the obligation arising from the contract of sale or the service contract;
  • Request reduction of the amount of credit equal to the reduction of the price of the good or service in question;
  • Proceed with the resolution of the credit agreement.


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