irrevocable letter of credit

noun

A written commitment issued by a bank to pay a specified amount of money to a beneficiary, provided that certain conditions are met.

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Meanings

nounirrevocable letter of credit (plural irrevocable letters of credit)

plural irrevocable letters of credit

  1. bankingA written commitment issued by a bank to pay a specified amount of money to a beneficiary, provided that certain conditions are met.
Cite this entry
APA

irrevocable letter of credit. (n.d.). In WatkinsX Dictionary. Retrieved November 5, 2026, from https://dictionary.watkinsx.com/word/irrevocable%20letter%20of%20credit

MLA

“irrevocable letter of credit.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/irrevocable%20letter%20of%20credit. Accessed November 5, 2026.

Chicago

WatkinsX Dictionary, s.v. “irrevocable letter of credit,” accessed November 5, 2026, https://dictionary.watkinsx.com/word/irrevocable%20letter%20of%20credit.

Source: irrevocable letter of credit on Wiktionary, CC BY-SA 4.0.