The Fees That Represent Bank Costs in Considering Loan Applications

question 98

Multiple Choice

The fees that represent bank costs in considering loan applications and document preparation are called:

• A) commitment fees.
• B) establishment fees.
• C) line fees.
• D) service fees.

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Definitions:

Bilateral

Relating to or involving two sides, parties, or countries, often used to describe agreements or communications.

Unilateral

Involving only one side or party, often referring to agreements or actions taken independently by one entity without the need for consent or participation of another.

Contract Law

A branch of legal studies focusing on the creation, interpretation, and enforcement of agreements between parties with mutual obligations.

Intellectual Property

Legal rights that result from intellectual activity in the industrial, scientific, literary, or artistic fields.