Answer :
Since Ben is the marketing manager of a large department store that sells a variety of household appliances, the thing that ben need to do to help customers finance these large, expensive items is arrange credit.
What is line of credit arrangement?
An LOC is a contract that a financial institution typically a bank has with a customer that specifies the largest loan amount the customer is permitted to take out. As long as they don't go over the maximum (or credit limit) specified in the agreement, the borrower is permitted to draw money from the LOC whenever they need it.
Therefore, Any contract relating to the granting of credit, extending credit, hire purchase agreement, loan or transaction in the nature of a loan, lease or rental agreement, invoice, account, agreement, or other evidence of debt, payments made, or withdrawals from any customer's or client's account is referred to as a credit arrangement.
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