What is the definition of Guillotine letter of credit? | Dictionary.net

GUILLOTINE LETTER OF CREDIT

\ɡˈɪlətˌiːn lˈɛtəɹ ɒv kɹˈɛdɪt], \ɡˈɪlətˌiːn lˈɛtəɹ ɒv kɹˈɛdɪt], \ɡ_ˈɪ_l_ə_t_ˌiː_n l_ˈɛ_t_ə_ɹ ɒ_v k_ɹ_ˈɛ_d_ɪ_t]\

Definitions of GUILLOTINE LETTER OF CREDIT

1910 - Black's Law Dictionary (2nd edition)

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A loan that needs little documentation from the beneficiary to cash it in. AKA suicide credit.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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