Irrevocable Letter of Credit

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Irrevocable letter of credit

Assurance of funds issued by a bank that cannot be canceled or amended without the beneficiary's approval.

A letter of credit that neither the bank granting it nor the letter holder (who is the buyer of some good) may cancel under any circumstances. This provides the seller with extra assurance that he/she will be paid on time and in the correct amount. Irrevocable letters of credit are most common in international commerce.

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Revocable Letter of Credit Transferable Letter of Credit			On or before October 20 the LIA will escrow funds or establish an irrevocable letter of credit or bank guarantee arrangement for the purchase of Verenex at the time the definitive agreement is signed. Verenex Gets Short End of Stick with Libyan Purchase by UMCI News (Potomac Falls, VA) Irrevocable Letter of Credit: An irrevocable letter of credit does not allow for amendments, modifications or cancellation unless there is agreement by the parties. Letters of Credit - What You Need to Know by Marco Terry / Business community This agreement stipulates that Nicattler is required to establish, in favor of Rodedawg, a 30% deposit and irrevocable letter of credit for the balance of each purchase order. Amphibious vehicles accord by Caribbean Update			IRA Transfer IRA/Keogh accounts Iraimbilanja Iranian Rial Iraqi Dinar IRB Iridium Irish Budget 2010 Irish Pound Irish Stock Exchange Iron Butterfly Iron Condor ironclad agreement IRR Irrational call option Irrational Exuberance Irredeemable Irredeemable Bond irregular coupon Irregularity Irrelevance Result Irrelevant Costs irrevocable Irrevocable Beneficiary Irrevocable Corporate Purchase Order Irrevocable Letter of Credit Irrevocable Trust IRS IRS Restructuring and Reform Act of 1998 Irtihan Irving Fisher IS ISDA ISE Isencao de imposto iShares Ishtirak ISJ ISK Islamic American Relief Agency Islamic Bank Islamic Banking Islamic Development Bank Islamic Finance Islamic Loan Islamic Mortgage Island Island Display Island Position Island Reversal ISMA			irreversible shock irreversible shock Irreversible steering gear irreversible thermodynamics irreversibleness irreversibleness irreversibleness irreversibleness irreversibly irreversibly irreversibly irreversibly irrevocability irrevocability irrevocability irrevocable irrevocable irrevocable Irrevocable Beneficiaries Irrevocable Beneficiary Irrevocable Commission Payment Order Irrevocable Conditional Bank Pay Order Irrevocable Confirmation of Reserved Funds Irrevocable Corporate Purchase Order Irrevocable Corporate Purchase Order Irrevocable Corporate Purchase Orders irrevocable decision Irrevocable Fee Protection Agreement Irrevocable Guarantee of Payment Bond Irrevocable Income-Only Trust Irrevocable Letter of Credit Irrevocable Letters of Credit Irrevocable Life Insurance Trust Irrevocable Life Insurance Trust Irrevocable Life Insurance Trusts Irrevocable Living Trust Irrevocable Living Trusts Irrevocable Master Fee Protection Agreement Irrevocable Offer of Dedication Irrevocable Payment Undertaking Irrevocable Reimbursement Undertaking Irrevocable Standby Letter of Credit Irrevocable Standing Payment Order Irrevocable trust Irrevocable Trust Receipt Irrevocable Trusts irrevocableness irrevocableness irrevocableness irrevocably irrevocably irrevocably irrevokable Irrevoluble IRRF IRRFI IRRFP IRRG Irrhetorical IRRI

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