An ________ letter of credit where the agreement cannot be modified without the express permission of all parties is considered:
A) Completed
B) Irrevocable
C) Revocable
D) Drafted

Question

Quizplus · Accepted Answer

An irrevocable letter of credit cannot be modified or canceled by the issuing bank without the consent of all parties involved. This provides assurance to the beneficiary that they will be paid as long as they comply with the terms and conditions of the letter of credit.

An ________ Letter of Credit Where the Agreement Cannot Be