What is Credit? & Borrow From Yourself Explainer

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Credit is money that will exist in the future

Letter of Credit - A letter of credit is a formal document issued by a bank or financial institution that guarantees a buyer’s payment to a seller will be made on time and for the correct amount.

A promissory note is a written and signed promise by one party (the issuer or borrower) to pay a specific sum of money to another party (the payee or lender), either on demand or at a specified future date.
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