Designing Buildings at 10:40, 22 April 2022

2022-04-22T10:40:11Z

← Older revision		Revision as of 10:40, 22 April 2022
Line 1:		Line 1:
−	A creditor ~~in simple terms~~ is a person or organisation to whom money is owing. It maybe that they extend credit by giving another entity permission to borrow money which is intended to be repaid in the future.	+	A creditor is a person or organisation to whom money is owing. It maybe that they extend credit by giving another entity permission to borrow money which is intended to be repaid in the future.

−	If a creditor is a single person they may be referred to as personal creditors, in some cases, losses can be offse against capital gains tax. Legal creditors are banks or financiers and will normally have a legal agreement in place with the debtor. This agreement may involve the use of other assets, referred to as collatoral, such as houses or cars to create what is know as a secured loan, in this case it gives the creditor the right to confiscate these if the loan is not repaid.	+	If a creditor is a single person they may be referred to as personal creditors.

−	~~Unsecured loans do not hold collatoral but~~ will normally ~~also~~ involve ~~contractual agreements~~, ~~which if broken will most likely result in a matter for the courts~~ to ~~find~~ a ~~solution to. In~~ this case it ~~is likely that creditors will investigate a borrowers previous history~~ to ~~see~~ if ~~they are creditworthy, in simple terms have they borrowed before and have they~~ repaid~~. Banks and other organisations use credit scores as a means to assess how likely a person or organisation is to borrow and pay of a loan~~.	+	Legal creditors are banks or financiers and will normally have a legal agreement in place with the debtor. This agreement may involve the use of other assets, referred to as collatoral, such as houses or cars to create what is know as a secured loan, in this case it gives the creditor the right to confiscate these if the loan is not repaid.

−	~~These terms~~ are ~~relevant~~ in ~~the design~~ and ~~construction of buildings where large sums are needed~~ to ~~carry out works from the clients side but also design team~~ or ~~contractors~~.	+	Unsecured loans do not hold collatoral but will normally also involve contractual agreements. It is likely that creditors will investigate a borrowers previous history to see if they are creditworthy, in simple terms - have they borrowed before and have they repaid. Banks and other organisations use credit scores to assess how likely a person or organisation is to borrow and pay of a loan.

	= Related articles on Designing Buildings =		= Related articles on Designing Buildings =

Editor: Created page with "A creditor in simple terms is a person or organisation to whom money is owing. It maybe that they extend credit by giving another entity permission to borrow money which is inten..."

2022-04-18T20:02:28Z

Created page with "A creditor in simple terms is a person or organisation to whom money is owing. It maybe that they extend credit by giving another entity permission to borrow money which is inten..."

New page

A creditor in simple terms is a person or organisation to whom money is owing. It maybe that they extend credit by giving another entity permission to borrow money which is intended to be repaid in the future.

If a creditor is a single person they may be referred to as personal creditors, in some cases, losses can be offse against capital gains tax. Legal creditors are banks or financiers and will normally have a legal agreement in place with the debtor. This agreement may involve the use of other assets, referred to as collatoral, such as houses or cars to create what is know as a secured loan, in this case it gives the creditor the right to confiscate these if the loan is not repaid.

Unsecured loans do not hold collatoral but will normally also involve contractual agreements, which if broken will most likely result in a matter for the courts to find a solution to. In this case it is likely that creditors will investigate a borrowers previous history to see if they are creditworthy, in simple terms have they borrowed before and have they repaid. Banks and other organisations use credit scores as a means to assess how likely a person or organisation is to borrow and pay of a loan.

These terms are relevant in the design and construction of buildings where large sums are needed to carry out works from the clients side but also design team or contractors.

= Related articles on Designing Buildings =

* Bill of quantities.
* Credit.
* Refurbishment.
* Demolition.
* NRM2.
* RICS.

[[Category:DCN_Definition]] [[Category:Definitions]] [[Category:Cost_/_business_planning]]

Creditor - Revision history

Designing Buildings at 10:40, 22 April 2022

Editor: Created page with "A creditor in simple terms is a person or organisation to whom money is owing. It maybe that they extend credit by giving another entity permission to borrow money which is inten..."