Revocable letter of credit

Revocable letter of credit

A letter of credit that can be cancelled or altered by the drawee (buyer) after it has been issued by the drawee's bank. Compare Irrevocable letter of credit.

This is auto-generated content. You can help to improve it.

0 0

Improve it

Add an image

Part of Speech: proper noun
Synonym(s):
Blossary:
Industry/Domain: Economy
Category: International trade
Company:
Product:
Acronym-Abbreviation:

Collect to Blossary

Other Languages:

Related terms

revocable letter of credit

Banking; Investment banking

Documentary credit that can be modified or cancelled at any time. The revocable letter of credit is hardly ever used because it offers little security.

revocable letter of credit

Financial services; General Finance

Assurance of funds issued by a bank that can be canceled at any time without prior notification to the beneficiary.

United Nations Center for International Trade Law (UNCITRAL)

Economy; International trade

An international body that drafts model laws such as the one on government procurement.

Uruguay Round

Economy; International trade

Multilateral trade negotiations launched at Punta del Este, Uruguay in September 1986 and concluded in Geneva in December 1993. Signed by Ministers in Marrakesh, Morocco, in April ...

variable levy

Economy; International trade

Customs duty rate which varies in response to domestic price criterion.

voluntary restraint arrangement (VRA)

Economy; International trade

Bilateral arrangements whereby an exporting country (government or industry) agrees to reduce or restrict exports without the importing country having to make use of quotas, ...

waiver

Economy; International trade

Permission granted by WTO members allowing a WTO member not to comply with normal commitments. Waivers have time limits and extensions have to be justified.

Washington Treaty

Economy; International trade

Treaty for the protection of intellectual property in respect of lay-out designs of integrated circuits.

Terms in the News

Featured Terms

Harry8L

0
Terms
0
Blossaries
1
Followers

Industry/Domain: Entertainment Category: TV

Dora the explorer

Dora the Explorer is an animated children's television series starring a 7-year-old Latina girl and her friends. It's made to engage preschoolers in a ...