revolving letter of credit

Definition of revolving letter of credit

: a letter of credit authorizing drafts up to a specified amount and permitting additional drafts to be drawn up to the amount of accepted drafts previously paid off

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“Revolving letter of credit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/revolving%20letter%20of%20credit. Accessed 12 Aug. 2020.

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