revolving letter of credit

A letter of credit that self-renews by providing for a continuing line of credit that the beneficiary periodically draws on and the bank customer periodically repays.

• A revolving letter of credit is used when there will be multiple drafts under a single transaction or multiple transactions under a single credit. — Abbr. RL/C.

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词条贡献者

译者Jenna，毕业于法国顶尖的高级翻译学院，擅长翻译有关互联网与电子商务领域的法律文件。