A person who in consideration for an extra commission takes responsibility for goods sold on credit and in case of default is a
Question 1 Report
A person who in consideration for an extra commission takes responsibility for goods sold on credit and in case of default is a
Answer Details
A "del credere agent" is a person who takes responsibility for goods sold on credit and in case of default. This means that the del credere agent guarantees that the buyer will pay the seller for the goods, even if the buyer defaults on their payment. In exchange for this guarantee, the del credere agent receives an extra commission. In simple terms, a del credere agent acts as a middleman, ensuring that the seller gets paid for the goods sold on credit, and taking on some of the risk involved in selling goods on credit.
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