A(n)________ allows the bank to modify the terms of the letter only after obtaining the approval of both exporter and importer.
A)bill of exchange
B)bill of lading
C)confirmed letter of credit
D)irrevocable letter of credit

Question

Quizplus · Accepted Answer

An irrevocable letter of credit cannot be altered or canceled without the consent of all parties involved, including the exporter and importer.

A(n)________ Allows the Bank to Modify the Terms of the Letter