- irrevocable letter of credit
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irrevocable letter of credit see letter of credit
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
irrevocable letter of credit
Look at other dictionaries:
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 — /ɪˌrevəkəb(ə)l ˌletər əv kredɪt/ noun a letter of credit which cannot be cancelled or changed, except if agreed between the two parties involved … Dictionary of banking and finance
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
