What is a committed line of credit?
- guarantees that a set amount of funds will be available to a firm for a stated period of time regardless of events that might occur during that time period.
- is a guarantee that a bank will purchase a firm's accounts receivable at full value.
- Provides greater assurance than a noncommitted credit line that funds will be available when needed by a firm.
- guarantees that any funds borrowed during a stated period of time will be charged the lowest rate of interest the lending bank offers to any of its customers.
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