What is the meaning of Irrevocable letter of Credit?
Should Letter of Credit treated as confirmation of realisation of export proceeds?
Please advice
Thanks
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Letter of Credit
Replies (4)
Letter of Credit in simple term is a promise to pay been made by bank on behalf of customer. Irrevocable letter of credit is the L/C which cannot be revoked i.e. which cannot be withdrawn.
Hi,
Can we change the purpose of FIRC after a year.. kindly guide me. What are all the rules and regulations applicable for this...
letter of cedit deal in document not in goods hnce it can not be treated as confirmation of export received
LETTER OF CREDIT FACILITY IS GIVEN BY BANK TO omly those customer whoare relaiable hence it can br treated as confiremation oe export receivable
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