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Institutional credit operations also include revolving and non-revolving credit options. However, they are much more complicated than retail contracts. They may also include the issuance of bonds or a credit consortium in which several lenders invest in a structured credit product. Revolving credit accounts typically have a simplified credit application and agreement process as non-revolving credits. Non-revolving loans – such as private loans and mortgages – often require a larger demand for credit. These types of credit typically have a more formal credit agreement process. This process may require the signature and agreement of the lender and the customer in the final phase of the transaction process. the contract shall be deemed valid only when both parties have signed it. .