A revocable L/C is intended to serve as a means of arranging payment but not as a guarantee of payment.

Name: A revocable L/C is intended to serve as a means of arranging payment but not as a guarantee of payment.
Brand: Quizplus
Rating: 4.9 (61 reviews)

Question

Quizplus · Accepted Answer

A revocable L/C can be changed or canceled by the issuing bank without notice to the beneficiary. Therefore, it cannot be considered a solid guarantee of payment, but rather a method of facilitating payment.

A Revocable L/C Is Intended to Serve as a Means