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:
- 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 ...
- 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 ...
- 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 ...
- 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" ...
- 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 ...
- 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 ...
- 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 ...
- 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 ...