A commercial loan is an advance payment, advance payment, deferral or installments under contracts related to the transfer of property or money into ownership. It is always additional to the main contract (lease, purchase and sale). Commercial loans are not provided under a separate agreement.
Instructions
Step 1
There are several ways to provide a commercial loan. The most common one is a one-time loan, when the seller provides you with a deferral or installment plan with an interest payment condition. In this case, the amount of interest depends on the price of the goods and is paid in excess of it.
Step 2
When using the bill of exchange method, your debt for the purchased goods or services is confirmed with a bill of exchange, which you must transfer to the seller. A bill of exchange is a debt security, which reflects the buyer’s debt to the seller, as well as the date and place of payment of this debt. A promissory note is issued in an amount exceeding the value of the goods, but the seller will be able to receive money for it only after the expiration of the period specified in it.
Step 3
If you conclude an open account agreement with the seller, you will have the right to make periodic purchases without applying for a one-time commercial loan. The advantage of this method is the reduction in the delivery time of the goods. In this case, payment can be made within a certain period of time after the purchase or regularly, for example, once a month. As a rule, an agreement on an open account is concluded with a permanent relationship between counterparties. At the same time, enterprises can act as sellers and buyers alternately, which ensures that the parties comply with payment discipline. Keep in mind that interest for using a loan on an open account is usually not charged or charged, but in a very small amount.
Step 4
Another way of providing a commercial loan is a skid to the buyer for paying for the goods at a certain time. This method assumes that if you pay for the purchase within the period specified in the contract, you will receive a discount on the product. Otherwise, you will have to pay for the item in full. As a rule, the amount of the discount depends on the term of its granting and the existing level of interest rates.
Step 5
A commercial loan can be provided in the form of a seasonal loan. It is used by buyers to build up the necessary inventory ahead of seasonal sales. In this case, you will receive a deferred payment until the end of the sale. For example, you can buy New Year's items a few months before the holiday and pay for them in February.
