Letter of credit, in which the specified payment is guaranteed by the bank if all terms and conditions are met by the drawee. The Irrevocable Letter of Credit cannot be revoked without joint agreement of the buyer and the seller.
Letter of credit, in which the specified payment is guaranteed by the bank if all terms and conditions are met by the drawee. The Irrevocable Letter of Credit cannot be revoked without joint agreement of the buyer and the seller.