A consumer-credit arrangement that allows the borrower to buy goods or secure loans on a continuing basis as long as the outstanding balance does not exceed a specified limit.
¡ª Also termed open credit; revolving charge account. Cf. revolver loan under LOAN. [Cases: Consumer Credit 34. C.J.S. Interest and Usury; Consumer Credit ¡ì 319.]
What is the Chinese interpretation of revolving credit?
LegalLingo, a Shanghai-based translation agency, is a recognized leader in comprehensive legal language solutions for the legal industry. We provide the world’s leading law firms and corporate legal teams with a full suite of services, ranging from the translation of contracts and compliance documentation to full-scale multilingual litigation requiring certified translation and Chinese document review. We deliver customized legal document translation solutions based on your case’s size and budget requirements, utilizing industry-leading technology to ensure accuracy, lower costs and faster turnaround times.