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

法律翻译舒婷，知名法学院保险学专业，专注翻译各类与保险与再保险诉讼有关的法律文件。