del credere

del credere
/del kreydarey/ An agreement by which a factor, when he sells goods on credit, for an additional commission (called a "del credere commission"), guaranties the solvency of the purchaser and his performance of the contract. Such a factor is called a "del credere agent." He is a mere surety, liable to his principal only in case the purchaser makes default. Agent who is obligated to indemnify his principal in event of loss to principal as result of credit extended by agent to third party

Black's law dictionary. . 1990.

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  • del credere — del cre·de·re /del krā də ˌrā/ adj [Italian, of belief, of trust]: relating to or guaranteeing performance or payment by third persons to a principal in connection with transactions entered into by an agent for the principal usu. in return for… …   Law dictionary

  • Del credere — Del cred er*e [It., of belief or trust.] (Mercantile Law) An agreement by which an agent or factor, in consideration of an additional premium or commission (called a del credere commission), engages, when he sells goods on credit, to insure,… …   The Collaborative International Dictionary of English

  • del credere — /del kreydarey/ An agreement by which a factor, when he sells goods on credit, for an additional commission (called a del credere commission ), guaranties the solvency of the purchaser and his performance of the contract. Such a factor is called… …   Black's law dictionary

  • Del credere — A del credere (Italian for belief or trust) agent, in English law, is one who, selling goods for his principal on credit, undertakes for an additional commission to sell only to persons who are absolutely solvent. His position is thus that of a… …   Wikipedia

  • del credere agent — ➔ agent * * * del credere agent UK US noun [C] ► COMMERCE a person or company that receives commission (= payment) for selling goods or services for another person or company, and that agrees to pay for the goods even if no money is received from …   Financial and business terms

  • del credere agent — see agent Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. del credere agent …   Law dictionary

  • del credere agency — an agent who, in selling goods on credit, guarantees to his principal the solvency of the purchaser and that the purchaser will duly perform his part of the contract. This guarantee attracts an extra commission (known as a del credere commission) …   Law dictionary

  • del credere agent — del credere agent, a factor or agent who guarantees his principal against loss due to insolvency on contracts which he has made with third parties …   Useful english dictionary

  • del credere — /del kreɪdərɪ/ noun an amount added to a charge to cover the possibility of not being paid …   Dictionary of banking and finance

  • del credere — (ˈ)del|krādərē adjective Etymology: Italian, of belief, of trust of a commission merchant or agent or an agency agreement : relating to or guaranteeing performance or payment by third persons to the principal in connection with sales or… …   Useful english dictionary

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