The European Union recommends maximum credit terms for many items including, for example, heavy capital goods (five years), light capital goods (three years), and consumer durable goods (one year).

Question

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The European Union does not set specific maximum credit terms for items such as heavy capital goods, light capital goods, or consumer durable goods. Credit terms are typically determined by lenders based on their own policies, the creditworthiness of the borrower, and the nature of the goods being financed.

The European Union Recommends Maximum Credit Terms for Many Items