Revocable Letter of Credit

A Revocable Letter of Credit is a type of credit in which the issuing bank can cancel or amend the terms of the letter of credit without any prior notice.

What is Revocable Letter of Credit ?
A Revocable Letter of Credit is a type of letter of credit that can be canceled, revoked or amended by the issuing bank at any time without issuing a prior notice to the beneficiary or seller. This type of letter of credit is usually uncommon during international trade.