A creditor is any party that has delivered a product, service, or loan to another party (the debtor), with the expectation that the debt will be repaid in the future. A creditor might be a bank, credit card company, financial institution, supplier, individual, or government. 

Typically, a debtor agrees to fulfill their repayment obligations to the creditor based on terms and conditions outlined in a contract or credit agreement. The agreement usually contains a set interest rate, repayment schedule, and any consequences or penalties that might be incurred for late or missed payments.

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