what is the difference between co signer and co buyer?
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Co-buyer vs. Cosigner. A cosigner is someone who agrees to sign for a loan in order to help a primary borrower get approved for financing. ... Co-buyers (also known as a co-borrower or joint applicant), on the other hand, have equal rights to the vehicle and are typically a spouse.
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There is no legal difference between a person's initials and his signature. the legal implication, result and the legal binding factor in respect of the person initialling or signing is the same. He is equally bound by the terms and conditions embodied in the said document.
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Their use is not legally required, but agreeing upon an Incoterm with your foreign buyer can help prevent miscommunication. For a more detailed discussion of payment and delivery terms, see the article, Terms of Trade: Uniform Commercial Code and Incoterms 2010.
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Here's my distinction: Use vendor for a party that's in the business of selling the property in question; use seller for a party that isn't. ... Use supplier for a party that not only is in the business of selling widgets but is contracting with you to supply you widgets over time.
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Who pays closing costs — the buyer or the seller? Both buyers and sellers pay closing costs, but as a seller, you can expect to pay more. Buyer closing costs: As a buyer, you can expect to pay 2% to 5% of the purchase price in closing costs, most of which goes to lender-related fees at closing.
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The main difference between a co-borrower and a loan guarantor is that the co-borrower is always liable for the payment of the loan whether the principal borrower pays back or not. ... To get the guarantor to pay back the loan, the lender would have to prove that the principal borrower has defaulted.
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A purchase order is considered a commercial document, meaning an official confirmation of a sale, while a pro forma invoice is a quote from a sale, not a confirmation. That's why the terms in a pro forma invoice are still subjected to change while a purchase order is a legally binding agreement.
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The person who uses the goods or services is known as a Consumer. The customer is also known as buyer or client whereas the Consumer is the ultimate user of the goods. ... The customer purchases the goods for the purpose of resale or to add value or for his personal use or on behalf of another person.
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Key Differences Between Sale And Agreement To Sell A sale implies immediate transfer of property. It is accomplished through a Sale Deed, while an agreement to sell implies future transfer. Risks are transferred immediately in Sale, whereas they remain with the seller in case of Agreement to Sell.
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The fundamental difference between Vendor Central and Seller Central is who will be selling your products. With Vendor Central, Amazon's retail team buys and resells your products to their customers. With Seller Central, you are selling directly to Amazon's customers.
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If both sides do not agree to the invoice, then it is not legally binding. The tenuous legal standing of an invoice is the very reason why vendors require signatures from the client, or some other binding form of acceptance, before sending out a product. The accountability works both ways for an invoice.
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However, when everything comes together, the buyer, seller, Realtors®, and title representatives come together at the closing to exchange ownership of the house. The agreements signed at closing are between the buyer and seller, but also between the buyer and the lender.
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One principal difference between these two types of repo stems from the fact that a repurchase transaction is always evidenced by a written contract, whereas a buy/sell-back may or may not be documented. ... These deficiencies make undocumented buy/sell-backs riskier.
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The main difference between exchange and completion is that the 'exchange' is an exchange of contracts, which makes the matter legally binding between the buyer and seller, whereas 'completion' is the date the parties physically move and transfer legal ownership of the property.
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Another important distinction to remember is that a co-borrower is primarily liable for the debt from its inception. In contrast, a guarantor is not liable unless the underlying borrower defaults and, depending on the terms of the guaranty, the lender pursues collection efforts against the borrower.
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Co-signing a loan does not mean serving as a character reference for someone else. When you co-sign, you promise to pay the loan yourself. It means that you risk having to repay any missed payments immediately. ... So make sure you can afford to pay this debt if the borrower cannot.
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But while googling it, I noticed some blogs on the page 1 of google were explaining that 2CO is very risky & beware of it. They said sometimes if you purchase via 2CO, you'll payment will be marked as fraud or whatever. While in the same forum some also explained, that it was fantastic for them as seller.