The credit facility is known as an arrangement for deferred payments for goods and services.
A credit facility is a kind of loan made in a business or corporate finance context. It permits the borrower to take out money for an extended period of time, in place of reapplying for a loan each time it needs money.
A deferred payment letter of credit, is a business letter of credit that imparts that the receiver will be paid, not at the time the receiver makes a complying presentation, but at a later, specified, maturity date.
Learn more about credit facility here,
https://brainly.com/question/27198549
#SPJ1
