Exchange Currency

revolving letter of credit

A letter of credit established one time that enables the receiver to access specific amounts of credit for scheduled shipments over a specified period of time. Issued as a cumulative or non-cumulative L/C, the former allows for unused credit amounts to rollover into subsequent periods while the latter maintains a fixed amount of credit available each period.

Related information about revolving letter of credit:
  1. What is revolving letter of credit (L/C)? definition and meaning
    Definition of revolving letter of credit (L/C): Single L/C that covers multiple- shipments over a long period. Instead of arranging a new L/C for each separate ...
     
  2. Encyclopedia of Credit - Revolving Letters of Credit
    This can be accomplished with a revolving Letter of Credit. A revolving L/C contains instructions which allow the beneficiary to draw for specified amounts over ...
     
  3. Revolving letter of credit - Merriam-Webster Online
    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 ...
     
  4. Definition of a Revolving Letter of Credit | eHow.com
    Definition of a Revolving Letter of Credit. Letters of credit from a financial institution are useful for many things. Many businesses keep them open "just in case" ...
     
  5. What is revolving letter of credit? definition and meaning
    Definition of revolving letter of credit: A letter of credit established one time that enables the receiver to access specific amounts of credit for scheduled shipments ...
     
  6. Understanding and Using Letters of Credit, Part II
    With a Revolving Letter of Credit, the issuing bank restores the credit to its original amount once it has been used or drawn down. Usually, these arrangements ...
     
  7. Revolving Letter of Credit - What does RLC stand for? Acronyms ...
    Acronym, Definition. RLC, Rend Lake College (Ina, IL). RLC, Republican Liberty Caucus. RLC, Richland College (Richardson, TX). RLC, Royal Logistic Corps ...
     
  8. Revolving Line - The Free Dictionary
    Revolving Letter of Credit · Revolving light. Revolving Line. Revolving line of credit · Revolving line of credit · Revolving line of credit · Revolving line of credit ...