Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
Escalation means any sudden rise or hike in values or anything else. It also means something taking a more serious turn, accelerating, becoming bigger/great, and so on.
In real estate, we often hear the term escalation in prices. This means a sudden or expected/unexpected hike or increase in real estate prices. There could also be escalations in the prices of raw materials used in the sector. There is also something called the escalation clause. This is a specific legal agreement/contract which guarantees agreement pricing changes with the determination or implementation of anything that is not directly in control of the parties and impacts the value of the property. This clause often mentions how a potential buyer is agreeable towards increasing the home price or offer on the basis of the seller getting a higher and better offer form someone else. This clause will have all the details regarding the amount to be paid additionally by the buyer in case the seller gets a higher offer. This will list out all the other terms and conditions, including the cap on how much extra the buyer is willing to, or can pay eventually.
