Kinds of the economic credit
In system of economic relations each enterprise is an intermediate link between suppliers and contractors, on the one hand, both buyers and customers ? with another. Redistribution of a working capital in industrial sphere, its moving from a turn of one enterprise in a turn of another, passing bank system and professional creditors, occurs in the course of economic crediting.
Operating debtor and creditor debts, the enterprises mutually finance each other and can quite manage in current activity without the bank short-term credit. The economic credit is rather various; it exists in three kinds is a commercial (trading) credit, monetary loans and the commodity credit. It can be given by the enterprises-creditors in the commodity and monetary form on the basis of contracts of purchase and sale, contracts of a loan, commercial and financial bills.
The commodity credit is given on the basis of the contract of the commodity credit, thus the creditor is obliged to give to the borrower the things defined by patrimonial signs, repayment of the commodity credit probably both in commodity, and in the monetary form, same concerns and a way of payment of percent.
In comparison with the trading credit which informally is supposed in the purchase and sale contract, monetary loans on the basis of contracts of a loan, bills and contracts of the commodity credit are less operative, since demand special formal procedures.
Nevertheless, they are necessary elements of system of economic commercial crediting as obligations of the parties here are defined more accurately that reduces credit risks. The choice of kinds and forms of commercial crediting is the important problem of the financial management which decision allows operating an enterprise working capital effectively. Thus, the category of the economic credit covers a wide spectrum of direct credit mutual relations between the organizations, and also their suppliers and contractors, on the one hand, both buyers and customers with another. It is sphere of so-called direct crediting, without financial intermediaries, and commercial (trading) crediting is carried out spontaneously, within the limits of execution of contracts of purchase and sale that provides direct and flexible redistribution of a working capital in economy.
Commercial (trading, firm, and commercial) the credit is given by the enterprises each other in the course of deliveries and the further calculations for the goods, works, services. Activity of any commercial enterprise inseparably linked with the commercial credit. The enterprises mutually finance each other in the course of purchases of means of production, the goods for sale and realization of finished goods or the goods. The enterprise plays an active role in credit relations, being the creditor of the counterpart, or a passive role, involving in the turn of means of other enterprises-creditors.
Crediting under the open account when the supplier makes shipment of the goods with a delay or the payment installments means direct replenishment of circulating assets of the buyer in the natural form. Advance payment (or an advance payment) also is the form of direct financing of activity of the supplier (contractor). Wide development has received in modern conditions inside corporate the commercial credit which transnational corporations give to the branches in the form of installments of payment for commodity deliveries. The commercial credit all is more widely applied to financial maintenance of transactions between wholesale and retail links of trade in the form of a consignment when under the corresponding contract the goods are transferred to realization.
Thus, at all variety of kinds of the economic credit it possesses the essential signs distinguishing it from other categories of credit. So, creditors and borrowers at economic crediting are industrial or trade enterprises, i.e. nonprofessional creditors. The object of crediting current industrial or trading activity thus occurs injection of means in a working capital of the borrower in the natural or monetary form.