glossary of terms

Debit = the obligation of a physical or legal person (debtor) to another physical or legal person (debtee), as a result of a service or of a transaction performed in accordance with a contractual relationship.

Debtor = physical or legal person who owes another physical or legal person a certain amount of money due to the fact that a service was performed in his/her favor.

Creditor = physical or legal person, holder of a debt instrument. The person or institution that grants a credit to someone.

Debt = the right of the creditor in respect to the debtor to refund a sum of money or a good, to perform a service or an obligation, etc.

Collector = person in charge of managing the uncollected debts of the clients

Mandate = The contract under which a person, called the principal, authorizes another person, called the empowered agent, to act and sign on his/her behalf and for him/her certain legal acts.

Debt assignment = Specific transmission means of obligations, consisting in the agreement by which the creditor voluntarily transmits his/her debt instrument to another person who will become the creditor in his/her place, and who will be able to collect the assigned debt from the debtor.

Due date = the date on which a payment obligation must be honored; thereafter, the payment obligation becomes past due.

Out-of-court = (about evidence, procedures, negotiation and recovery procedures) the
procedure that takes place outside a court, until the intervention of justice or of a judge

Invoice= Accounting document issued by a company to a client, containing the quantity and price of goods or services performed.

Credit = Loan granted to a natural or legal person on a reimbursement basis, being usually conditioned by the payment of an interest.

Payment notification = written communication addressed to a natural or legal person in order to inform them that a fact or a legal act has been completed or will be completed.

Payment Agreement = obligation assumed by a natural or legal person in respect of a debt reimbursement

Fire Credit castiga premiul Calitate si Organizare acordat de Confindustria Romania

Posted: March 10, 2017

Joi, 15 decembrie, a fost organizata in Sala Ronda a Hotelului Intercontinental din București, Gala Conf [ ... ]

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Fire Credit participa la Conferinta Nationala ALB Romania 2017

Posted: November 24, 2016

Fire Credit a participat pe 23 noiembrie 2017 la editia a 12-a a Conferintei Anuale ALB Romania (Asociati [ ... ]

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Visit of the Italian Ambassador in Romania in Fire Credit

Posted: June 3, 2016

Tuesday the 17 th of May 2016, Fire Credit enjoyed the presence of His Excellency, the Italian Ambassador [ ... ]

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