Definitions for "Irrevocable Letter of Credit"
Keywords:  drawee, ucp, letter, canceled, met
See letter of credit. Français: Lettre de Crédit Irrévocable Español: Carta de crédito irrevocable
Instrument for payment used widely in international trade. Ideally drawn up in accourdance with UCP or ICP
A Letter of Credit that cannot be canceled or changed without the consent of all parties, including the Exporter. Unless otherwise stipulated, all Letters of Credit are irrevocable.