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.

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DCA is DURABLE COMPETITIVE ADVANTAGE. See SUSTAINABLE COMPETITIVE ADVANTAGE.

SHARE PREMIUM is the difference between the higher price paid for a share of stock and the stocks par value when issued.

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