Guaranteed Credit

Guaranteed Credit

 

in the capitalist countries the form of loan capital allocated by one industrial or commercial enterprise to another under the guarantee of a bank or of a government department or institution. Guaranteed credits of bank or special credit institutions in the 1960’s were primarily long-term credits. The bourgeois state is often the guarantor of the obligations of the largest monopolies. For example, in 1967 the government of the Federal Republic of Germany granted to the banks financing the Krupp concern a guarantee of 300 million German marks. Guarantees are granted most often in the area of export credits; state guarantees are especially prevalent in the export of entrepreneurial and loan capital, including guaranteed loans. In the USA a major guarantor is the Export-Import Bank; similar guarantors in Japan are the Export-Import Bank and the Overseas Economic Cooperation Fund; in the Federal Republic of Germany, the Credit Institute for Restoration; and in France, the French Insurance Company for Foreign Trade and the National Bank (Crédit National).

In the socialist countries guaranteed credits are used mainly in financing foreign trade. The International Bank of Economic Cooperation gives guarantees for export credits (as a rule short-term ones) with a view toward expanding trade relations between the socialist countries as well as between socialist and capitalist countries and especially between socialist and developing countries. With the growth of the economic independence of enterprises and the possibilities (in some socialist countries) of entry of enterprises or production associations into foreign markets, the sphere of guaranteed credits is widening.

V. E. RYBALKIN

References in periodicals archive ?
Moody's said the assumption of financial support from private shareholders can't be taken as a guaranteed credit enhancement.
To further assist the dealership in providing guaranteed credit approval it has partnered with Credit Acceptance.
75 increase to their guaranteed credit, giving them pounds 137.
s service is our guaranteed credit, central billing and central payment for all approved vendors," Wilson said.
The flat rate pounds 200 payment, to help pay for council tax, will be paid to each household containing at least one person who is 65 or above, (assuming they're not getting the guaranteed credit part pension credit).
51 Pension Credit per week, pounds 43 guaranteed credit element and pounds 15.
Additionally, many owners fail to recognize that they have guaranteed credit with vendors, with certain lessors of equipment, and, as mentioned above, with landlords.
The money comes in the form of a guaranteed credit facility with the bank and most of it will be available to boss Sturrock, who has spent about pounds 2m since he arrived from St Johnstone last year.
Sandvik has completed an amendment of its guaranteed credit facility established in February 2012 and maturing in 2018.
Media Contact: Daniel Jordan, Guaranteed Credit Loans, 559-475-8737, support@guaranteedcreditloans.
Those on pension credit guaranteed credit (with or without savings credit) qualify.
Offered through a nationwide network of automotive dealer-partners, the company's Guaranteed Credit Approval Program provides dealer-partners with the opportunity to deliver credit approvals to consumers within 30 seconds through the Internet using its patented Credit Approval Processing System (CAPS).

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