LETTER OF CREDIT, IRREVOCABLE Definition

Bookmark and Share

LETTER OF CREDIT, IRREVOCABLE is a letter of credit where payment is guaranteed as long as the seller meets all conditions stipulated. A revocable letter of credit can be cancelled or altered by the buyer without permission of the seller.

Learn new Accounting Terms

CERTIFIED PUBLIC ACCOUNTANT (CPA) is an accountant licensed to practice public accounting.

BARRIERS TO ENTRY are obstacles to the entry of new firms into a market. Barriers to entry may take various forms. They may be technical barriers, legal barriers or barriers that arise from strong branding of the product.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.