del credere

Del credere

Del` cred"er*e\ [It., of belief or trust.] (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.
Webster's Revised Unabridged Dictionary, © 1996, 1998 MICRA, Inc.
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