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You are viewing the version of the document as on 2024-08-21.

fixed-sum credit

  1. (1) (except in CONC and SUP 16 Annex 21R149) (in accordance with section 10(1)(b) of the Consumer Credit Act 1974) any facility under a contract, other than running-account credit, by which the customer is enabled to receive credit (whether in one amount or by instalments).71
  2. (2) (in CONC and SUP 16 Annex 21R149) a facility under a credit agreement whereby the borrower is enabled to receive credit (whether in one amount or by instalments) but which is not running-account credit.71