Which of the following letters of credit can be modified without obtaining approval from either the exporter or the importer,by the bank issuing the letter of credit?
A) revocable letter of credit
B) confirmed letter of credit
C) at sight letter of credit
D) irrevocable letter of credit

Question

Quizplus · Accepted Answer

A revocable letter of credit can be modified without obtaining approval from either the exporter or the importer. However, revocable letters of credit are rarely used in international trade because they offer no protection to the beneficiary.

Which of the Following Letters of Credit Can Be Modified