The term for an arrangement between you and another party where you receive goods or services now and arrange to pay later is: Credit.
What is credit?
Credit can be defined as the way in which a person collect loan or borrow from a lender with the intention to payback the lender at a stipulated period of time.
When a buyer received products or goods from a seller with a plan to payback the seller this method of transaction is known as credit.
Therefore the term for an arrangement between you and another party where you receive goods or services now and arrange to pay later is: Credit.
Learn more about credit here:https://brainly.com/question/26867415
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