ARDLC definition

ARDLC means Auto Revolving Documentary Letter of Credit. This is rarely used, since if an ARDLC is issued auto revolving for 12 months, it would mean that the full funds for all 12 months have to be deposited and blocked by the issuing bank. So, if for example a monthly shipment is for $10 million, and is auto revolving for 12 months, then $120 million must be deposited and held as collateral by the bank. That is why always a SBLC is issued that needs only funds for one month/shipment and when the payment is transferred for this shipment, then you can always have the SBLC auto revolving every month;
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Examples of ARDLC in a sentence

  • A copy of the posted ARDLC shall be transmitted by facsimile or scanned by email to the Seller for verification and documentation.

  • The ARDLC shall be revolving month-by-month for the duration of this Agreement, i.e. thirteen (13) months and one (1) day.

Related to ARDLC

  • Panchayat means an institution (by whatever name called) of self-government constituted under article 243B, for the rural areas;

  • WADA means the World Anti-Doping Agency.

  • SAMR means the State Administration for Market Regulation of the PRC or, with respect to the issuance of any business license or filing or registration to be effected by or with the State Administration for Market Regulation, any Governmental Authority which is similarly competent to issue such business license or accept such filing or registration under the Laws of the PRC.

  • Hookah means a water pipe and any associated products and devices which are used to produce fumes, smoke, and/or vapor from the burning of material including, but not limited to, tobacco, shisha, or other plant matter.

  • SORA means, in respect of any Singapore Business Day “i”, a reference rate equal to the daily Singapore Overnight Rate Average published by the Monetary Authority of Singapore (or a successor administrator), as the administrator of the benchmark, on the Monetary Authority of Singapore’s website currently at http://www.mas.gov.sg, or any successor website officially designated by the Monetary Authority of Singapore (or as published by its authorised distributors) (the “Relevant Screen Page”) on the Singapore Business Day immediately following such Singapore Business Day “i”; and