Credit

Credit is the collective name for claims of a creditor who can expect consideration from a debtor .

General

From the perspective of the creditor, the credit is a monetary claim against the debtor; from the perspective of the debtor, there is a liability . It depends on the debt ratio from between the two, if and when the balance due is whether an interest rate is agreed upon, whether a cash payment this bank money is possible or only a contractual consumption is provided for specific purposes. Credit balances are subject to an advance payment risk because the debtor can become insolvent ( counterparty risk ) or willfully refuse to pay ( performance fraud ), as a result of which the creditor suffers a loss of receivables .

species

The collective term credit refers specifically to

• all credit balances on accounts :
  • Bank deposits as book money in bank accounts : sight , futures and savings deposits .
  • Bank balances as a balance sheet item of non-banks in accordance with Section 266 (2) lit B IV of the German Commercial Code ( HGB) or of credit institutions vis-à-vis other credit institutions ( Section 14 RechKredV ).
  • Building society savings : The savings to be made by the saver in the savings phase of building society contracts .
• Unused prepayments for prepaid cards or money cards on which the credit is electronically stored and can be used for a specific purpose ( e.g. telephone cards ).
• Unused credit from vouchers .
• With bonus systems (such as Payback or frequent flyer programs ), credits are created in a certain ratio to the purchase price and accrue in a virtual unit (such as forfeitable bonus miles or bonus points), which can be credited to a new purchase price above a certain amount or used for cash payment .
• Overpayments in advance payments: in particular tax credits or credits from utility bills ; see credit and unjust enrichment .
• Corporate law :
  • Severance balance in the resolution of societies .
  • Business credit (legal term: business share ) of the members of a cooperative ( Section 7 No. 1 GenG ), i.e. equity .

Except for the business credit, all credit balances represent a claim that is subject to a repayment obligation by the debtor. Building society credits, business credits, vouchers, savings deposits and advance payments are strictly earmarked .

Legal issues

Credits are claims that are subject to a contractual repayment obligation by the debtor in accordance with Section 488 (1) sentence 2 BGB . This repayment obligation depends on the contractually agreed term or due date . There is no repayment obligation if the debtor pays the promised consideration. With debit cards without any time limitation expire entirely or partially unused, perpetual balance in three years of its issue ( § 195 BGB), calculated from 31 December of Ausstelljahres ( § 199 BGB). Something else only applies if the prepaid card is limited in time and the period is "appropriate" for its part according to the customs of the respective line of business; however, if this period is too short, the validity is based on the general statute of limitations (three years). This also applies to vouchers. The remaining credit in the event of a card blocking may not expire without replacement.

Credit protection

All bank balances of non-banks are secured by deposit protection, with limits on the amount. According to Section 2 (3) EinSiG, deposit protection is subject to all deposits, i.e. bank balances that result from amounts posted to an account in the context of banking transactions and are to be repaid by the institutions on the basis of contractual conditions. The deposit protection specifically includes all savings, time and sight deposits as well as registered savings bonds . Liabilities from securities transactions of a credit institution are also considered to be deposits , provided that the credit institution's obligations consist of providing the customer with possession or ownership of money . Deposits in foreign currencies are also covered , with compensation being granted in euros . Advance payments of any kind are unsecured, as are business assets that represent equity and are therefore subject to business risk.

See also

Wiktionary: Credits  - explanations of meanings, word origins, synonyms, translations

Individual evidence

1. ↑ Gerhard Köbler , Etymological Legal Dictionary , 1995, p. 174
2. ^ BGH, judgment of March 11, 2010, Az. III ZR 178/09 = BGH NJW 2010, 1956 - Telecom phone cards
3. ↑ BGH, judgment of January 24, 2008, Az .: III ZR 79/07 = BGH NJW-RR 2008, 562

Please note the information on legal issues!