A/An _____ can be changed or canceled at any time by the buyer without the seller's consent.
A)irrevocable letter of credit
B)Incoterm
C)revocable letter of credit
D)CISG
E)switch trade

Question

A/An _____ can be changed or canceled at any time by the buyer without the seller's consent.
A)irrevocable letter of credit
B)Incoterm
C)revocable letter of credit​
D)CISG
E)switch trade

Quizplus · Accepted Answer

A revocable letter of credit can be changed or canceled at any time by the buyer without the seller's consent. Irrevocable letters of credit, on the other hand, cannot be changed or canceled without the seller's agreement. Incoterms are terms defining the costs, risks, and responsibilities of the buyer and seller in international trade. CISG is an international sales law that governs the rights and obligations of buyers and sellers in cross-border transactions. Switch trade is a trading strategy that involves simultaneously buying and selling the same asset in different markets to take advantage of price discrepancies.

A/An _____ Can Be Changed or Canceled at Any Time