Loan guarantee

loan guarantee is a promise made by a guarantor to assume a debt owed by a borrower if he can not repay it, and is therefore in default of payment .

The downstream is a type of credit guarantee practiced for commercial paper 1 . The downstream etymology is probably hawala of Islamic origin 2 .

Notes and references

  1. ↑ ” Downstream | Credit guarantees ”  [ archive ] , on www.actufinance.fr (accessed June 15, 2016 )
  2. ↑ Gamal Moursi Badr , ” Islamic Law: Its Relationship to Other Legal Systems “, The American Journal of Comparative Law , Vol.  26p.  187-198 ( DOI  10.2307 / 839667 , read online  [ archive ] )

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