Letter of license

LETTER OF LICENSE, contracts. An instrument or writing made by creditors to their insolvent debtor, by which they bind themselves to allow him a longer time than he had a right to, for the payment of his debts and that they will not arrest or molest him in his person or property till after the expiration of such additional time.

References in periodicals archive ?
"In the future, the skipper will make a Letter of Statement of Marine (SPM) to be issued Letter of License (SKM) as a sign of the ship can operate again," said Minister Susi.