| The issuer must be someone who carries on a consumer credit business, that is, he must be in the business of making regulated credit agreements. |
| An investor invests in the issuer the principal amount of the structured note component. |
| The issuer obtains an agreed percentage of each amount paid under the card as a consideration for the service rendered to the dealer. |
| Basically, the issuer undertakes to pay for the purchases made by the cardholder within a specified credit limit. |
| In such a bipartite arrangement, the card is used to charge the client's account with the issuer which the customer settles later. |
| A difficult question arises in respect of this contract where the issuer becomes insolvent. |
