Meaning IRREVOCABLE CREDIT
What does IRREVOCABLE CREDIT mean? Below you find one meaning for the word IRREVOCABLE CREDIT You can also add a definition of IRREVOCABLE CREDIT yourself
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IRREVOCABLE CREDITThe issuing bank and any confirming bank undertake an irrevocable payment obligation towards the beneficiary. The undertaking cannot be cancelled or amended unless the beneficiary agrees.
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