What is an irrevocable letter of credit?
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AN IRRECOVERABLE LETTER OF CREDIT IS A FINANCIAL INSTRUMENT USED BY BANK TO GARANTEE A BUYERS OBLIGATION TO A SALER.
IT IS A IRRECOVERABLE BECAUSE THE LETTER OF CREDIT CANNOT BE MODIFIED UNLESS ALL PARTIES AGREE TO MODIFICATIONS.
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ACCOUNTING COACH + WHAT IS IRRECOVERABLE LETTER OF CREDIT.
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U R ANSWER...
AN IRRECOVERABLE LETTER OF CREDIT IS A FINANCIAL INSTRUMENT USED BY BANK TO GARANTEE A BUYERS OBLIGATION TO A SALER.
IT IS A IRRECOVERABLE BECAUSE THE LETTER OF CREDIT CANNOT BE MODIFIED UNLESS ALL PARTIES AGREE TO MODIFICATIONS.
IF U WANT BIG ON THE TOPIC..
U SHOULD BE GO TO WEBSITE
ACCOUNTING COACH + WHAT IS IRRECOVERABLE LETTER OF CREDIT.
HOPE HELPING 4 U....
Answered by
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An irrevocable letter of credit is a financial instrument
used by banks to guarentee a buyer's obligations to a seller. It is irrevocable because the letter of credit cannot be modified unless all parties agree to the notifications.
MAKE ME BRAINLIEST
used by banks to guarentee a buyer's obligations to a seller. It is irrevocable because the letter of credit cannot be modified unless all parties agree to the notifications.
MAKE ME BRAINLIEST
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