Super Finance Glossary
Over 10,000 financial glossary terms...
Backup Line Of Credit
Backup Line Of Credit
Definition: A bank assurance of funds obtained by an issuer of commercial paper to protect the CP investor from default. The issuer pays a commitment fee to the bank.
Definition: A bank assurance of funds obtained by an issuer of commercial paper to protect the CP investor from default. The issuer pays a commitment fee to the bank.