Letter of Credit (Revocable)
Letter of Credit (Revocable) : This type of letter of credit is not as legally binding as an irrevocable credit. It can be modified or canceled without the beneficiary's consent, unless the negotiation has already taken place. The issuing bank must honor the drafts negotiated before the notice of revocation or amendment has been made. Negotiability is restricted to the advising bank and confirmation is usually not available
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