Which of the following can be modified by the bank issuing the letter of credit without obtaining the approval of either the exporter or importer?
A) Revocable letter of credit
B) Confirmed letter of credit
C) Bill of lading
D) Irrevocable letter of credit

Question

Quizplus · Accepted Answer

A revocable letter of credit can be modified or revoked by the issuing bank at any time, without the need for approval from the exporter or importer. This is in contrast to an irrevocable letter of credit, which cannot be modified without the approval of all parties involved. A confirmed letter of credit and bill of lading are not types of letters of credit and cannot be modified by the issuing bank.

Which of the Following Can Be Modified by the Bank