REVOLVING LINE OF CREDIT in commercial banking is a contractual agreement between a bank and, usually, a company where the bank agrees to provide loans up to a specified maximum over a specified period, usually a year or more. In consumer banking, it is a loan account requiring monthly payments less than the full amount of the loan, and the balance is carried forward with a finance charge on that balance. Also known as REVOLVING CREDIT.
GENERAL PARTNERSHIP is one or more partners who are jointly and severally responsible or liable for the debts of the partnership.
SIGN-OFF is approval or agreement, e.g. to sign-off on a purchase contract.
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