Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
revolving letter of credit
A letter of credit that self-renews by providing for a continuingline of credit that the beneficiary periodically draws on and the customer periodically re pays. ( A revolving letter of credit is used when there will be multiple drafts under asingle transaction or multiple transactions under a single credit. - Abbr. RL/C.