Home > Glossary > Confirmed Irrevocable Letter Of Credit
Meaning / Definition of
Confirmed Irrevocable Letter Of Credit
Categories: Credit and Debt,
A letter of credit issued by a bank on behalf of a buyer that guarantees payment for goods received, that is also guaranteed by the bank. This type of letter of credit provides the lowest risk for the seller, since it cannot be cancelled by the buyer, and it is backed by the financial resources of the issuing bank.
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