Difference between revisions of "Evergreen Letter of Credit"

From Open Risk Manual
(Initial Entry)
 
 
Line 1: Line 1:
 
== Definition ==
 
== Definition ==
'''Evergreen Letter of Credit'''. It is a letter of credit with an initial expiration date but containing a clause that states that it is automatically extended for additional periods unless the issuing financial institution provides notice to the beneficiary stating otherwise.
+
'''Evergreen Letter of Credit'''. It is a [[Letter of Credit]] with an initial expiration date but containing a clause that states that it is automatically extended for additional periods unless the issuing financial institution provides notice to the beneficiary stating otherwise.
  
 
[[Category:Supply Chain Finance]]
 
[[Category:Supply Chain Finance]]

Latest revision as of 13:49, 13 February 2020

Definition

Evergreen Letter of Credit. It is a Letter of Credit with an initial expiration date but containing a clause that states that it is automatically extended for additional periods unless the issuing financial institution provides notice to the beneficiary stating otherwise.

Contributors to this article

» Wiki admin