irrevocable letter of credit
irrevocable credit

An irrevocable letter of credit normally becomes payable when goods have been supplied.

Irrevocable letters of credit that guarantee repayment of commercial paper or tax-exempt securities.

Qintex, an Australian resorts and entertainment company, was to have delivered the irrevocable letter of credit for $50 million by Sept. 22.

The BDIC offers an irrevocable letter of credit so a client may secure some form of credit from a conventional financial institution.

But how can you pressure Sun when it's locked in with what the judge himself considers an irrevocable letter of credit to cover the legal bills if Addamax loses?

The bond issue is secured by an irrevocable letter of credit by the Morgan Guaranty Trust Company of New York.

The issue, supported by an irrevocable letter of credit from Union Bank of Switzerland, is rated triple-A by S.&P.

In this case, it's worth insisting on a (confirmed) irrevocable letter of credit that secures payments according to the terms of the credit and often at an agreed rate.

GSM-102 Credit Guarantees are extended to approved U.S. exporters using dollar-denominated, irrevocable letters of credit to pay for food and agricultural products sold to foreign buyers.

A group of banks led by the Manufacturers Hanover Trust Company would receive $840 million of the remaining cash as collateral against an irrevocable letter of credit for $1.675 billion.

The New Jersey Devils gave Newark officials a $100 million irrevocable letter of credit yesterday to meet the requirements of the team's deal with the city to build a $310 million arena.

For additional security the exporter can request a Confirmed Irrevocable Letter of Credit where another bank, say, in the UK will 'confirm' the credit and thereby assume the payment risk.

The CCC agrees to pay exporters or their assignee (e.g., financial institution) in the event a foreign bank fails to make payment pursuant to the terms of an irrevocable letter of credit.

The offering is supported by an irrevocable letter of credit from the Federal Home Loan Bank of Atlanta and is rated P-1 by Moody's and A-1+ by Standard & Poor's.

South Jakarta court prosecutor Mohamad Yamin said Maman Suparman, a 48-year-old former deputy branch director of the Indonesian Development Bank (Bapindo), unlawfully converted an irrevocable letter of credit.

If the domestic bank advising the exporter of the letter of credit confirms it, the document is known as a confirmed irrevocable letter of credit which means both the issuing and advising banks guarantee payment.

Northwestern Bell on Alert Northwestern Bell, which provides telephone service for the campaigns, now demands "irrevocable letters of credit" from banks for campaigns that do not pay their bills two months in advance, along with a deposit.

The issue is backed by an irrevocable letter of credit issued by the New York office of Barclays Bank P.L.C. and is rated triple-A by Moody's and AA+ by S.&P.

Jawahar Chatpar, the chairman and chief executive of Cyber Digital, said the contracts required major payments before any work begins and were secured by irrevocable letters of credit from several banks, including the Nigerian branch of Citibank.

Principal and interest payments on the notes, which yield about 7/8 percentage point more than Treasury issues of similar maturity, are to be paid from an irrevocable letter of credit issued by the New York branch of the Fuji Bank.

It underwrites credit extended by the private banking sector in the United States (or, less commonly, by the U.S. exporter) to approved foreign banks using dollar-denominated, irrevocable letters of credit to pay for food and agricultural products sold to foreign buyers.

Today, the military historian Edward N. Luttwak said, "The United States military will only agree to engage in an operation if it is given an irrevocable letter of credit beforehand saying that it won't be criticized if anything goes wrong or civilians are killed."

Tom and Dorian signed the deed of transfer of High Weald and, grinning triumphantly, van de Velde handed over an irrevocable letter of credit drawn on the Bank of Batavia for an amount less than half of what he had been prepared to pay for it only a few months before.

Article 10 of UCP 400 states that an irrevocable credit constitutes a definite undertaking of the issuing bank, provided that the stipulated documents are presented and that the terms and conditions of the Credit are complied with, to pay at sight or to accept an obligation to pay at a future date.