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The concept you're referring to is often called "credit." It allows individuals or businesses to obtain goods and services without immediate payment, with the understanding that they will repay the lender or provider at a later date, often with interest. This arrangement typically comes with specific terms and guidelines regarding repayment, including the payment schedule and any applicable fees or interest rates. Credit can be extended through various means, such as loans, credit cards, or purchase agreements.

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3w ago

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