Market credit corporation is the secured party in a secured transaction with northwest outfitters. Market credit could also be referred to as the secured creditor.
A secured creditor represents any creditor or lender who is endowed with the benefit of a security interest over the assets of the debtor. He is entrusted with the issuance of a secured credit product. This credit product is backed by collateral. He holds a floating charge over business assets including property.
Secured creditors are generally financial institutions. He can hold different roles like the holder of a real estate mortgage, an equipment lender, a receivables lender, holder of a statutory lien, and so on.
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