DEL CREDERE

In mercantile law. A phrase borrowed from the Italians, equivalent to our word “guaranty” or “warranty,” or the Scotch term “warrandice;” an agreement by which a factor, when he sells goods on credit, for an additional commission, (called a “del credere commission,”) guaranties the solvency of the purchaser and his performance of the contract. Such a factor is called a “del credere agent.” He is a mere surety, liable only to his principal in case the purchaser makes default. contracts. A del credere commission is one under which the agent, in consideration of an additional premium, engages to insure to his principal not only the solvency of the debtor, but the punctual discharge of the debt; and he is liable, in the first instance, without any demand from the debtor.