IRREVOCABLE LETTER OF CREDIT Definition

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IRREVOCABLE LETTER OF CREDIT is a letter of credit in which the specified payment is guaranteed by the issuing bank if all terms and conditions are met by the drawee. It is as good as the issuing bank.

Learn new Accounting Terms

VET, VETTED, VETTING is to make a careful and critical examination of someone or something, e.g. a person prior to employment.

EXTRAORDINARY EXPENSE see EXTRAORDINARY ITEMS.

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