AskDefine | Define creditor

Dictionary Definition

creditor n : a person to whom money is owed by a debtor; someone to whom an obligation exists [ant: debtor]

User Contributed Dictionary

English

Noun

  1. A person to whom a debt is owed.

Antonyms

Translations

a person to whom a debt is owed

Extensive Definition

A creditor is a party (e.g. person, organization, company, or government) that has a claim to the services of a second party. The first party, in general, has provided some property or service to the second party under the assumption (usually enforced by contract) that the second party will return an equivalent property or service. The second party is frequently called a debtor or borrower.
The term creditor is frequently used in the financial world, especially in reference to short term loans, long term bonds, and mortgages. In law, a person who has a money judgment entered in their favor by a court is called a judgement creditor.
The term creditor derives from the notion of credit. In modern America, credit refers to a rating which indicates the likelihood a borrower will pay back his or her loan. In earlier times, credit also referred to reputation or trustworthiness.

Accounting classification

In accounting presentation, creditors are to be broken down into 'amounts falling due within one year' or 'amounts falling due after more than one year'...
The financial statements presentation is this:

See also

creditor in Danish: Kreditor
creditor in German: Gläubiger
creditor in Estonian: Võlausaldaja
creditor in Spanish: Acreedor
creditor in French: Créancier
creditor in Korean: 채권자
creditor in Indonesian: Kreditur
creditor in Italian: Creditore
creditor in Lithuanian: Kreditorius
creditor in Dutch: Crediteur
creditor in Norwegian: Kreditor
creditor in Norwegian Nynorsk: Kreditor
creditor in Polish: Wierzyciel
creditor in Russian: Кредитор
creditor in Simple English: Creditor
creditor in Swedish: Borgenär
creditor in Ukrainian: Кредитор
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