Definition Of

Revocable Documentary Credit

Revocable Documentary Credit as the name implies, the fundamental difference between this type of instrument and an irrevocable credit is that it can be amended or cancelled by the issuing bank (possibly on request from the applicant), without the consent of the beneficiary.

Share it:

More from this Section

  • Office of the Comptroller of the Currency
    Office of the Comptroller of the Currency is the federal government agency, a part of the U.S. Treasury Department, that awards charters
  • Basis Point
    Basis Point is one-hundredth of one percentage point (i.e. 0.01%), normally used for indicating spreads or cost of finance.
  • Price stability
    Price stability is the low and stable inflation.
    BOLERO is an electronic platform for the transmission of all trade documents developed by SWIFT and TT Club as owners
  • Negotiable Instrument
    Negotiable Instrument is a negotiable instrument is one which, by the custom of trade, passes from hand to hand by delivery so as to give a
  • Disclosure rules
    Disclosure rules is the laws and regulations that mandate telling the consumer about financing costs and other essential terms of a loan or lease agreement.
  • Qualified Institutional Buyer (QIB)
    A qualified institutional buyer (QIB) is an entity (except a bank or a savings and loan) that owns and invests on a discretionary basis $100 million in securities ...