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cash letter of credit personal l-c ECON

Monolingual examples (not verified by PONS Editors)

English
The cash credit account is similar to current accounts as it is a running account (i.e., payable on demand) with cheque book facility.
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Generally, a cash credit account is secured by a charge on the current assets (inventory) of the organization.
en.wikipedia.org
But unlike ordinary current accounts, which are supposed to be overdrawn only occasionally, the cash credit account is supposed to be overdrawn almost continuously.
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