EVERGREEN LETTER OF CREDIT

Automatically extending by roll-over an evergreen clause provision indefinitely each period until final expiration is told to the beneficiary by the issuing bank. The letter of credit has a set expiry date.

More On This Topic



Link to This Definition
Did you find this definition of EVERGREEN LETTER OF CREDIT helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary