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
Love words? You must — there are over 200,000 words in our free online dictionary, but you are looking for one that’s only in the Merriam-Webster Unabridged Dictionary.
Join MWU now and get access to America’s largest dictionary, with:
- 300,000 words that aren't in our free dictionary
- Expanded definitions, etymologies, and usage notes
- Advanced search features
- Ad free!
Seen and Heard
What made you want to look up revolving letter of credit? Please tell us where you read or heard it (including the quote, if possible).