What is GUIDANCE LINE?

A BANK LINE granted to a customer that is used by the lending institution for internal management purposes and is not specifically communicated to the customer. Since the client pays no COMMITMENT FEE, the guidance line can be cancelled or withdrawn by the lender at any time. See also ADVISED LINE.

More On This Topic



Link to This Definition
Did you find this definition of GUIDANCE LINE 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