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.
The finder’s fee is called referral fee or referral income. This is the commission that is paid out to any intermediary or the enabler of any specific transaction. The finder’s fee is given since the intermediary identified and found the deal and then ensured that the interested parties got to know of the same. The assumption is that the parties would never have come to know about this deal if the intermediary was not present, and hence he/she should be compensated likewise. The finder’s fee may be paid out by the seller or buyer, based on the circumstances or scenario of the completion or establishment of the transaction/deal.
The finder’s fee is applicable in the real estate or property sector. Intermediaries or agents may charge this fee for enabling property or real estate transactions. This is an incentive or reward for ensuring referrals or enabling the property deal in this case. The terms and conditions of the finder’s fee may vary greatly, depending on various circumstances. It could also be a gift given to another party by one party.
