Definition of Del credere
Del` cred´er`e
1.
(Mercantile Law)
An
agreement
by
which
an
agent
or
factor
,
in
consideration
of
an
additional
premium
or
commission
(
called
a
del
credere
commission
),
engages
,
when
he
sells
goods
on
credit
,
to
insure
,
warrant
,
or
guarantee
to
his
principal
the
solvency
of
the
purchaser
,
the
engagement
of
the
factor
being
to
pay
the
debt
himself
if
it
is
not
punctually
discharged
by
the
buyer
when
it
becomes
due
.
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