A/An _____________ L/C, in contrast, cannot be revoked without the specific permission of all parties concerned, including the exporter.
A) confirmed
B) transferable
C) unconfirmed
D) irrevocable

Question

Quizplus · Accepted Answer

An irrevocable L/C is a type of letter of credit that cannot be revoked without the specific permission of all parties involved, including the exporter. This provides a level of assurance to the exporter that their payment will not be cancelled or delayed without their agreement. Confirmed, transferable, and unconfirmed L/Cs do not have this same level of assurance.

A/An _____________ L/C, in Contrast, Cannot Be Revoked Without the Specific