- irrevocable letter of credit
- /ɪˌrevəkəb(ə)l ˌletər əv 'kredɪt/ nouna letter of credit which cannot be cancelled or changed, except if agreed between the two parties involved
Dictionary of banking and finance. 2015.
irrevocable letter of credit
Look at other dictionaries:
irrevocable letter of credit — see letter of credit Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
irrevocable letter of credit — Assurance of funds issued by a bank that cannot be canceled or amended without the beneficiary s approval. Bloomberg Financial Dictionary * * * irrevocable letter of credit irrevocable letter of credit ➔ letter of credit * * * irrevocable letter… … Financial and business terms
irrevocable letter of credit — A confirmed irrevocable letter of credit, irrevocable letter, or a confirmed credit is a contract to pay on compliance with its terms, and needs no formal acknowledgment or acceptance other than is therein stated. See also letter of credit … Black's law dictionary
irrevocable letter of credit — A confirmed irrevocable letter of credit, irrevocable letter, or a confirmed credit is a contract to pay on compliance with its terms, and needs no formal acknowledgment or acceptance other than is therein stated. See also letter of credit … Black's law dictionary
irrevocable letter of credit — See: letter of credit … Accounting dictionary
irrevocable letter of credit — See letter of credit … Big dictionary of business and management
Irrevocable Letter Of Credit - ILOC — A letter of credit that can t be canceled. This guarantees that a buyer s payment to a seller will be received on time and for the correct amount. This is often used in international transactions … Investment dictionary
irrevocable documentary acceptance credit — A form of irrevocable confirmed letter of credit in which a foreign importer of UK goods opens a credit with a UK bank or the UK office of a local bank. The bank then issues an irrevocable letter of credit to the exporter, guaranteeing to accept… … Big dictionary of business and management
confirmed irrevocable letter of credit — See: letter of credit … Accounting dictionary
letter of credit — letter of credit: a document issued to a beneficiary at the request of the issuer s customer in which the issuer (as a bank) promises to honor a demand for payment by the beneficiary in order to satisfy or secure the customer s debt compare… … Law dictionary
