back to back credit definition

back to back credit

Guarantee (standby credit) arranged to secure a contractor's or seller's performance at the same time a guarantee (standby credit) is arranged to secure the owner's or buyer's payment. Also called back to back guarantee or reciprocal credit. See also back to back letter of credit.

back to back credit is in the Agreements & Contracts, Banking, Commerce & Finance, International Trade & Relations and Purchasing & Procurement subjects.

back to back credit appears in the definitions of the following terms: reciprocal credit, back to back guarantee and secondary credit

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