A revocable letter of credit refers to a letter in which the importer bank can cancel or change terms of agreement without getting approval from all parties.

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A revocable letter of credit can be cancelled or changed by the importer bank without the need for approval from all parties involved. This type of letter of credit is not commonly used in international trade transactions as it does not offer the same level of security for the exporter as an irrevocable letter of credit.

A Revocable Letter of Credit Refers to a Letter in Which