revocable letter of credit

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

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revocable letter of credit revocable letter of credit letter of credit

Financial and business terms. 2012.

Look at other dictionaries:

  • revocable letter of credit — See letter of credit …   Big dictionary of business and management

  • revocable letter of credit — /ˌrevəkəb(ə)l ˌletər əv kredɪt/ noun a letter of credit that can be cancelled …   Marketing dictionary in english

  • revocable letter of credit — changeable or cancelable promissory note stating that a bank will grant a loan …   English contemporary dictionary

  • letter of credit — An obligation issued by a bank on behalf of a bank customer to a third party. There are many different kinds of letters of credit. The two most common are commercial letters and standby letters. A commercial or trade letter of credit is a bank… …   Financial and business terms

  • letter of credit — documentary credit A letter from one banker to another authorizing the payment of a specified sum to the person named in the letter on certain specified conditions. Commercially, letters of credit are widely used in the international import and… …   Accounting dictionary

  • letter of credit — documentary credit A letter from one banker to another authorizing the payment of a specified sum to the person named in the letter on certain specified conditions (see letter of indication). Commercially, letters of credit are widely used in the …   Big dictionary of business and management

  • Letter of credit — After a contract is concluded between buyer and seller, buyer s bank supplies a letter of credit to seller …   Wikipedia

  • letter of credit — An engagement by a bank or other person made at the request of a customer that the issuer will honor drafts or other demands for payment upon compliance with the conditions specified in the credit. A credit may be either revocable or irrevocable …   Black's law dictionary

  • revocable — Susceptible of being revoked, withdrawn or cancelled; e.g. revocable letter of credit @ revocable credit A credit which can be withdrawn or cancelled before its expiration date and without the consent of the person in whose favor it was drawn.… …   Black's law dictionary

  • credit — an entry made on the right hand side of an account and indicating a gain to a liability, owner s equity or revenue account. Glossary of Business Terms money loaned. Bloomberg Financial Dictionary * * * ▪ I. credit cred‧it 1 [ˈkredt] noun 1.… …   Financial and business terms

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