Definition Of

Open-End Credit

Open-End Credit commonly referred to as a Line of Credit. May be used repeatedly up to a certain limit; also called a Charge Account or Revolving Credit

Share it:  Cite

More from this Section

  • Offshore finance subsidiary
    Offshore finance subsidiary refers to a foreign financial subsidiary owned by a corporation in another country. Offshore finance subsidiaries are usually ...
  • Edge Acts
    Edge Acts is the subsidiary companies of a banking organization that must devote the majority of their activities to transactions involving
  • Air Waybill
    Air Waybill or Air Consignment Note is a document which acknowledges receipt by an air transport company of goods dispatched by air.
  • Tier 2 Capital
    Tier 2 Capital Comprises Property Revaluation Reserves, Undisclosed Reserves, Hybrid Capital, Subordinated Term Debt and General
  • Power of Attorney
    A power of attorney is a document, which gives power to the person appointed by it to act for the person who signed the
  • Term Loan
    Term Loan is a loan intended for medium-term or long-term financing to supply cash to purchase fixed assets such as machinery, land or
  • Certificate of Origin
    Certificate of Origin is the certificate given by the exporter certifying the origin of either the materials or production of goods being shipped.