meaning of back to back credit

back to back credit meaning in Law Dictionary

promise to perform and repay a financial obligation. AKA straight back guarantee and reciprocal credit. Make reference to back letter of credit.

back to back credit meaning in Business Dictionary

Guarantee (standby credit) arranged to secure a contractor's or vendor's overall performance as well a guarantee (standby credit) is arranged to secure the dog owner's or purchaser's payment. Also known as back-to-back guarantee or mutual credit. See in addition back-to-back letter of credit.