creditor

Vocabulary Word

Definition

'Creditor' is a term used to describe any person, institution or entity that has lent money or goods and now expects repayment. It's like the shop owner who sells items on credit.

Examples in Different Contexts

In financial technology, platforms managing 'creditor' information require stringent security measures. A fintech specialist might say, 'Our platform employs advanced encryption to safeguard creditor data against unauthorized access.'

Practice Scenarios

Business

Scenario:

We need to reduce the cash flow out of our business or we'll face solvency issues.

Response:

You're right. We should prioritize paying our creditors to improve our cash flow.

Tech

Scenario:

Our liquidity is running thin. We may need to negotiate the terms with our investors.

Response:

I agree. Including our creditors in the negotiation will protect our liquidity.