Explain these types of letter of credit: revocable/ irrevocable, confirmed/unconfirmed. Under what sets of circumstances would exporters

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Explain these types of letter of credit: revocable/ irrevocable, confirmed/unconfirmed. Under what sets of circumstances would exporters use the following methods of payment:

(a) Revocable letter of credit

(b) Confirmed letter of credit

(c) Confirmed irrevocable letter of credit

(d) Time draft (i.e. bill of exchange)?

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Global Marketing

ISBN: 9781292251806

8th Edition

Authors: Svend Hollensen

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Question Posted: Jan 24, 2024 06:01 AM

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Explain these types of letter of credit: revocable/ irrevocable, confirmed/unconfirmed. Under what sets of circumstances would exporters

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1 Types of Letter of Credit Revocable letter of credit A revocable letter of credit allows the issuing or confirming bank to amend or cancel the credi...View the full answer

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