Revolving account — A revolving account is a type of debt account where the outstanding balance does not have to be paid in full every month by the borrower to the lender. The borrower may be required to make a minimum payment, based on the balance amount. The most… … Wikipedia
revolving credit facility — an arrangement (usually with a bank) that requires the borrower to undertake to make regular periodic payments into a designated account in return for the facility to borrow on that account up to a specified sum, the amount of which is usually… … Law dictionary
revolving credit — re·volv·ing credit n: a credit which may be used repeatedly up to the limit specified after partial or total repayments have been made Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. revolving credit … Law dictionary
revolving charge — A type of credit arrangement that permits a buyer or a borrower to purchase merchandise or obtain loans on a continuing basis as long as the outstanding balance of the account does not exceed a certain limit. Dictionary from West s Encyclopedia… … Law dictionary
revolving — [ri välvīŋ, ri vôl′viŋ] adj. 1. that revolves: said of an airport beacon, etc. ☆ 2. Finance a) designating a fund kept for making loans, payments, etc. and regularly replenished, as from repayments b) designating credit, as for a charge account,… … English World dictionary
Revolving Funds — A revolving fund is a fund or account whose income remains available to finance its continuing operations without any fiscal year limitation.Within federal and state governments, law establishes revolving funds. Revolving funds, established for… … Wikipedia
revolving charge account — noun a charge account that does not have to be paid to zero balance • Hypernyms: ↑credit account, ↑charge account, ↑open account * * * a charge plan offerring revolving credit. [1965 70] … Useful english dictionary
revolving charge account — An arrangement between a seller and a buyer pursuant to which: (1) the seller may permit the buyer to purchase goods or services on credit either from the seller or pursuant to a seller credit card, (2) the unpaid balances of amounts financed… … Black's law dictionary
revolving charge account — An arrangement between a seller and a buyer pursuant to which: (1) the seller may permit the buyer to purchase goods or services on credit either from the seller or pursuant to a seller credit card, (2) the unpaid balances of amounts financed… … Black's law dictionary
revolving credit — noun a consumer credit line that can be used up to a certain limit or paid down at any time • Syn: ↑open end credit, ↑charge account credit • Hypernyms: ↑consumer credit • Hyponyms: ↑credit account, ↑ … Useful english dictionary
